Louis Vuitton purchases 8 pc stake in Fabindia
Wolfensohn Money Companions,woolrich outlet, the New Yorkbased enterprise money fund of former Globe Financial institution President James Wolfensohn, purchased the stake in Fabindia in 2007 for about $ten million.
Fabindia, which sells clothing, furnishings and materials, also plans to raise money for growth,woolrich sale, the sources said.
Wolfensohn India Handling Director Sanjiv Kapur and a spokeswoman for Fabindia declined to comment, while L Capital Managing Director Sanjay Gujral did not instantly respond to an e-mail seeking remark.
Chinese fashion business Fashionable Worldwide Team said on Wednesday that an L Capitalled consortium would purchase a minority stake in it for about $200 million.
L Money Asia introduced a $640 million fund final yr focusing on emerging economies including China and India.
The Asia fund is the fourth fund by L Capital, whose bestknown investments include Pepe Denims, Gant and Princess Yachts.
The French fund last year purchased twenty five.5 percent stake in Genesis Luxurious Style Pvt Ltd, which distributes international luxury brand names, primarily attire and accessories.
LVMH reported a higherthanexpected fullyear working profit earlier this month and stated the outlook for 2012 was excellent, in part because of to rapid development in Asia.
The L CapitalWolfensohn transaction is a secondary offer that is, a transaction in between private equity money.
This kind of offers are less favoured by buyout companies but are becoming more common as a way to exit investments as weak capital markets limit possibilities for initial public offerings.
Private fairness exits through the Indian IPO marketplace dropped 66 percent to $eighty five million in fifteen offers in 2011, according industry tracker VCCircle.
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