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French Luxury Major LVMH Wants To Back Ramdev's Business, May Pump Half Its Asia Money Into Patanjali
NEW DELHI: French luxury group LVMH has taken a shine to Baba Ramdev's Patanjali Ayurved Ltd.
"We would love to work with him if we can find a model," said Ravi Thakran, managing partner, L Catterton Asia. However, "I know his model is not to work with multinationals and with foreign money."
The L Catterton private equity fund co-owned by LVMH is ready to bet $500 million — almost half of its remaining Asia fund — to buy a stake in the enterprise that has emerged as one of India's biggest fast moving consumer goods (FMCG) companies with a range of ayurveda based products in the past few years.
