An investment of about 500 million USD (Rs 3,250 crore) is reportedly being contemplated to be made by French luxury group LVMH Moet Hennessy – Louis Vuitton, in the Indian company Patanjali Ayurveda.
“Acharya Balkrishna has said that just as we use foreign technology for our development, we do not hesitate to use foreign funds for the benefit of our country, but we will take it on our own terms,will not give share/stake”, said Patanjali spokesperson SK Gupta Tijarawala through Twitter.
Economic Times quoted Balakrishna as saying, “We would love to work with him if we can find a model,” L Catterton Asia Managing Partner Ravi Thakran told the paper. He also said he is aware that Ramdev’s business model does not support working with multinational companies and with foreign money or brands.”
Founded in 1854 by Louis Vuitton, Louis Vuitton Malletier is a fashion house and luxury retail company and is commonly referred to as Louis Vuitton. The company deals in products like luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelry, accessories, sunglasses and books and the company’s label – LV monogram is seen on most of its products. This fashion company is amongst the leading international fashion houses.
Louis Vuitton had been adjudged as the world’s most valuable luxury brand for six consecutive years from 2006 to 2012. US$25.9 billion is the valuation of the brand in 2012. The company now has over 460 stores in worldwide and is operational in 50 countries.
On the other hand, the Indian company Patanjali intends to take advantage of the online sale channels and wants to place its products on the digital platform. According to news agency PTI, the range of FMCG products of the company is being planned to be place on etailers and aggregators and the company is in talks with at least 8 such companies.
Amazon, Flipkart, Paytm Mall, 1MG, bigbasket, grofers, shopclues and snapdeal are the online market places where the yoga guru Ramdev’s firm is anticipated to get into agreements this month.
“We are now going into massive way. Now, we would have an organised and systematic agreement with the players to place our all product online, so that it could reach to customers to the end point,” Patanjali spokesperson S K Tijarawala told PTI.
“This would change the scenario of whole FMCG trade through online” he added.
“The retailers and aggregators would share the dias…They are coming and make announcement together that they would be working with brand Patanjali,” Tijarawala said
(Adapted from DNAIndia.com)