LVMH has $560-700 Mn for Indian brands

By SiliconIndia   |   Friday, 21 September 2007, 07:00 Hrs
Printer Print Email Email
New Delhi: Louis Vuitton Moet Hennessy (LVMH), French luxury goods giant is planning to make private equity investments of $560-700 million in Indian retail chains and brands, jewellers, ayurveda, designers and spas, reported BusinessLine.

LVMH, which has brands like Christian Dior, Fendi, TAG Heuer and Dom Perignon in its stable, is planning to float a 1 billion euro private equity fund for emerging markets in Asia, of which 40-50 percent will be dedicated to India.

According to Ravi Thakran, Goup President of LVMH's operations in South, South-east and West Asia, the company is looking to invest in retail and brands of Indian origin. The fund will be launched within 12 months by L Capital, which is controlled by LVMH. "While the fund might not necessarily invest in brands classified as luxury, these should have the potential to become one," says Thakran.

Group Arnault , LVMH's holding company will also make investments in Indian real estate. As per the sources in the industry, Group Arnault was in talks with DLF and Bombay Dyeing for two such destinations in Mumbai.

"The idea is to create luxury destinations in the country. It would be a mix of retail and entertainment such as hotels or spas," says Thakran.

SPOTLIGHT
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..