French luxury brand Moet Hennessy Louis Vuitton SE (LVMH) is interested in working with Indian yoga guru Ramdev and buy a stake in his Patanjali Ayurved, The Economic Times reported.
L Catterton, a private equity fund co-owned by LVMH, said it will spend almost half of its remaining Asia fund, $500 million, to buy a stake in Patanjali.
“I know his [Ramdev] model is not to work with multinationals and with foreign money,” Ravi Thakran, managing partner, L Catterton Asia, told The Economic Times. “We would love to work with him if we can find a model,” he said.
The deal may not go through as Ramdev has positioned his products and the company, through advertisements, as being anti-multinational.
Thakran said Patanjali was a “disruptor” in its category. “It has taken Indianness and celebrated it with pride,” Thakran told the newspaper. Thakran said that a tie-up could help Patanjali sell its products in the United States, Japan, China, South Korea and Europe.
Patanjali’s spokesperson SK Gupta Tijarawala said on Twitter that Patanjali will not “hesitate to use foreign funds for the benefit of our country.”