LVMH to make $500-600 mn pvt equity fund in India
Global luxury brands conglomerate Louis Vuitton Moet Hennessy plans to launch a $500-600 million private equity fund in India for investing in brands and retail chains.business Updated: Sep 24, 2007 11:27 IST
Global luxury brands conglomerate Louis Vuitton Moet Hennessy (LVMH) is planning to launch a $500-600 million private equity fund in India for investing in brands and retail chains.
LVMH President (South, South-East and West Asia operations) Ravi Thakran told PTI that the group is also looking for a foray into luxury destinations such as spas and entertainment for which it was in talks with real estate developers, including major DLF, to acquire land.
"We are planning to make private equity investments of $500-600 million in Indian retail chains and brands," he said, adding the fund would be launched by L Capital Partners, of LVMH, within 12 months.
Besides looking for new ventures, LVMH is strengthening its existing business with plans to open 25 new outlets across the country, he added.
The luxury goods giant, which has brands like Christian Dior, Fendi, TAG Heuer and Dom Perignon, is also gearing up to launch luxury brands like Kenzo, Marc Jacobs, Berluti, couture brands Givenchy, Loewe, Celine and Pucci by 2008.
LVMH would also introduce Sephora, its beauty and cosmetics business, in India by next year, Thakran added.