Louis Vuitton Malletier (LVM), the leading French designer brand of fashion and leather goods, is ready to treat the fashion conscious Indians now. The iconic fashion brand has received the Foreign Investment Promotion Board (FIPB) nod to acquire a 51% equity stake in Mumbai-based LV Trading, which owns a retail store each in Mumbai and Delhi. LV Trading under a non-exclusive distribution agreement with LVM has already been selling Louis Vuitton brands in India.

LVM is a part of Louis Vuitton Moet Hennessey (LVMH), a leading luxury products group in the world. Leather goods, shoes, watches, jewellery, textiles, writing instruments, luggage bags, sunglasses and accessories are the various offerings that LVM would be retailing in India. However, luxury brands of LVMH like Tag Heuer and Christian Dior will continue to be sold separately.

As per the agreement, LVM will be the majority shareholder in the newly formed joint venture and will be investing through equity shares and purchase of non-convertible preference shares. The total investment will finally amount to Rs.57 million, out of which about Rs.15 million will be invested for picking up the stake holding.

Source:- IIPM Editorial

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