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Friday April 27, 2018 02:25 PM

Louis Vuitton wants $500m stake in Ramdev’s business

  • Published at 12:21 AM January 12, 2018
Louis Vuitton wants $500m stake in Ramdev’s business
Indian Yoga Guru Baba Ramdev gestures while giving an interview to a television channel after a press conference in Ahmedabad on May 10, 2017, ahead of "World Yoga Day" on June 21 AFP

The deal may not go through as Ramdev has positioned his products and the company, through advertisements, as being anti-multinational

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.”

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