LVMH, the French luxury goods group behind brands including Louis Vuitton, Celine, Dior and Marc Jacobs, is to invest $25m (£15.1m) in its premium brand Charles and Keith (C&K) in India.
The luxury group already made an investment in India by picking up a 25.5% stake in Genesis Luxury Fashion, so its investment in C&K represents its second aquisition in the Indian market.
LVMH has launched a private equity fund of $650m (£393.1m) dedicated to investments focused on markets like China, Southeast Asia and India. The fund dedicated to investments focused on these markets would primarily be in consumer brands, lifestyle concepts and media and entertainment.
“The company is strengthening its presence in India and will spend over $25m (£15.1m) in expanding C&K in Chennai, Kolkata, Bengaluru, Lucknow and Ludhiana. We are planning to have 40-50 new stores in India,” said Ravi Thakran managing partner of L Capital Asia.
The company already has 229 stores across Asia and West Asia under its C&K and Pedro brands.