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This story is from September 24, 2007
LVMH plans $500m-600m PE fund
Global luxury brands conglomerate Louis Vuitton Moet Hennessy (LVMH) is planning a $500m-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 said 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 like 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, the global luxury brands conglomerate is also trying to strengthen its existing business in India 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.
The company is drawing plans for its beauty business. “LVHM would introduce Sephora - its beauty and cosmetics business - in India by next year,” company president added.
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