New Delhi [India], Jan 11 (ANI): French luxury group LVMH Moet Hennessy - Louis Vuitton, is eager to invest a colossal 500 million USD (Rs 3250 crore) inRam Dev Baba’s Patanjali Ayurveda business group.
French luxury group LVMH Moët Hennessy Louis Vuitton SE, also recognized as as Louis Vuitton or LVMH, has uttermost interest to buy stakes in Patanjali Ayurved, as per reports of the Economic Times.
"We would love to work with him if we can find a model," L Catterton Asia Managing Partner Ravi Thakran said Economic Times. L Catterton also asserted that he knows that Ramdev Baba-led- Paanjali’s business model does not support to work with multinational companies and with foreign money or brands still The L Catterton private equity fund is co-owned by Louis Vuitton claim to be ready to invest USD 500 million, which is close to half of their remaining funds in Asia, to purchase stakes of Patanjali.
Patanjali has become the leading one of the fastest growing FMCGs by sticking with the ‘Swadeshi Apanao’ tag line on their all products. They managed to run faster than their global and local challengers who had already been a part of the Indian FMCG market. In order to try to win the business race with Patanjali, Hindustan Unilever, Colgate Palmolive and Dabur were required to re-establish and jack up their ayurvedic products line.
With the news clipping attached in the tweet, Acharya Balakrishna and Ramdev Baba along with Patanjali spokesperson SK Gupta Tijarawala conveyed the information from their Twitter handle on Thursday which is quoted as saying” LVMH, the French luxury group, wishes to invest $ 500 million (₹ 3250 crores) in # Patanjali, then @Ach_Balkrishna said, as if we use foreign technology to make progress, we do not have to avail foreign capital for national interest. Will not give shares/steak on their terms.