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Oct, 01 2006

Louis Vuitton, Fendi \'arriving\' in India

Louis Vuitton Malletier and Fendi, both belonging to France-based Louis Vuitton Moet Hennessy, propose to invest Rs 32.2 crore and Rs 26.5 crore, respectively, for buying 51 per cent equity in existing Indian companies and for scaling up operations.

Louis Vuitton, after picking up 51 per cent in paid-up equity in LV Trading, which already distributes its goods in India, for Rs 1.5 crore, will pump in another Rs 32.1 crore over five years. It will also purchase 2.5 lakh zero-coupon, redeemable, non-convertible preference shares for Rs 28.75 crore. It will then subscribe to fresh issues of such shares worth Rs 1.32 crore.

Fendi is to invest Rs 26.5 crore in Fun Fashion India over five years. Following the investment, the Indian firm will work as a joint venture between Chordia Fashion and Fendi, and distribute products (readywear clothes, bags, watches, jewellery and shoes) through one of its stores in Mumbai

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