Sorry for being out of action for a while, but here's some news that's brightened up my day. Reuters reports that LVMH's investment fund L Capital Partners is to launch a fund targeting brands in emerging markets in Asia, and aims to spend US$ 560-700 million in India.
"We are looking to invest in retail and brands of Indian origin," Business Standard's website cited Ravi Thakran, group president of LVMH's operations in South, Southeast and West Asia, as saying.
The fund will be launched within 12 months, Thakran said, adding that it may acquire brands not classified as luxury but which have the potential to become such. Targets in India will include retail chains, jewellers, traditional ayurveda medicine producers and spas.
Thakran also said LVMH plans to acquire real estate in India 'to create luxury destinations in the country... such as hotels or spas.'
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