Premji Invest buys 8% of exiting L Capital’s stake in Fabindia
L Capital, the private equity arm of leading luxury goods conglomerate Louis Vuitton MoHennessy (LVMH), had bought 8% stake in
Meanwhile, Premji Invest was ahead of other private equity investors to buy the 8% stake.
Fabindia has over 200 stores across 79 locations, having customer base of three million.
Ravi Thakran, chairman of L Capital Asia, had said Genesis Luxury and Fabindia demonstrated strong revenue growth.
Reportedly, in October 2015, LVMH registered an 18% increase in global revenue, reaching 25.3 billion euros, for the first nine months of 2015.
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