LVMH's Private Equity Fund Re-invests in India's Biggest Fashion Company After 6 Years
L Catterton Asia, a private equity fund owned by LVMH, announced on May 22nd the acquisition of a 10% stake in Future Lifestyle Fashions Limited (FLFL), the largest integrated fashion group in India. Founded in 2012, FLFL owns about 30 fashion brands and selling in outlets, department stores, and general shopping malls. It also has its own brand factory. So far, the group has 400 sales outlets covering 6 million square feet of retail space. With the support of a strong retail channel, the group’s private brand sales reached 40% of the total. Among them, the sales of FLFL's “Top 6 Brands” accounted for 60% of the total sales of private brands. According to VCCircle ‘s investment media report, the investment may reach a scale of US$125 million.
Founded in 2009, L Catterton Asia is a private equity fund of the LVMH Group focused on consumer products in the Asian market. There are offices in Singapore and Mauritius, and regional consultancies in Hong Kong, Mumbai, Shanghai and Sydney. L Catterton Asia leverages its strategic partnership with LVMH and Groupe Arnault throughout the entire investment process; from the launch of proprietary transactions to detailed industry surveys; to post-investment value-added operations. The investment in India’s fashion companies was a long-lost return to the Indian market after investing in Fabindia, an Indian traditional arts and crafts retail platform.