LVMH has launched a private equity fund of $650 million dedicated to investments focused on markets like China, Southeast Asia and India. The company is strengthening its presence in India and will spend over $25 million in expanding C&K in Chennai, Kolkata, Bengaluru, Lucknow and Ludhiana. We are planning to have 40-50 new stores in India, Ravi Thakran, managing partner of L Capital Asia, said.
The company already has 229 stores across Asia and West Asia under its Charles & Keith and Pedro brands. The $650 million fund dedicated to investments focused on these markets would primarily be in consumer brands, lifestyle concepts, media and entertainment, beauty and wellness, boutique hospitality and private education.
L Capital has been investing in aspirational and luxury goods makers all over the world. The fund would also look at portfolio companies which have high growth potential in the short to medium term, said Thakran.