French luxury group LVMH Moet Hennessy - Louis Vuitton, is mulling to invest a whopping 500 million USD (Rs 3,250 crore) gigantic investment in Baba Ramdev's Patanjali Ayurveda.
According to the reports, Louis Vuitton is mulling to invest a whopping 500 million USD (Rs 3,250 crore) in Patanjali Ayurveda.
Patanjali spokesperson SK Gupta Tijarawala shared the information on Twitter on Thursday, and added, "Acharya Balkrishna has said that just as we use foreign technology for our development, we do not hesitate to use foreign funds for the benefit of our country, but we will take it on our own terms,will not give share/stake."
Acharya Balkrishna is the managing director of Patanjali.
Economic Times quoted Balakrishna as saying, "We would love to work with him if we can find a model,"
L Catterton Asia Managing Partner Ravi Thakran told the paper. He also said he is aware that Ramdev's business model does not support working with multinational companies and with foreign money or brands."
Louis Vuitton Malletier, commonly referred to as Louis Vuitton is a fashion house and luxury retail company founded in 1854 by Louis Vuitton. The label's LV monogram appears on most of its products, ranging from luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelry, accessories, sunglasses and books. The French luxury group is one of the world's leading international fashion houses.
For six consecutive years (2006–2012), Louis Vuitton was named the world's most valuable luxury brand. Its 2012 valuation was US$25.9 billion. At present, the company operates in 50 countries with more than 460 stores worldwide.
Meanwhile, Patanjali has been planning to make a stronger online presence to sell its product on the digital platform. According to a PTI report, Patanjali Ayurved is likely to partner with eight leading retailers and aggregators to give a big push to online sales of its swadeshi range of FMCG products, a company official told the news agency.
Yoga guru Ramdev's firm is expected to enter into agreements this month with major online retailers -- Amazon, Flipkart, Paytm Mall, 1MG, bigbasket, grofers, shopclues and snapdeal -- a step through which its range of products will be available on various online platforms.
Patanjali is organising a function on January 16 here and representatives of all the online companies are expected to attend it along with Ramdev and its MD Acharya Balkrishna.
"We are now going into massive way. Now, we would have an organised and systematic agreement with the players to place our all product online, so that it could reach to customers to the end point," Patanjali spokesperson S K Tijarawala told PTI.
These partnerships with etailers will be in addition to its own portal patanjaliayurved.net, where the company is selling its products online.
"This would change the scenario of whole FMCG trade through online" he added.
Some of Patanajali's products are already available on several online platforms through various other sellers but this would allow the Haridwar-based firm to systematically place its range of products."The retailers and aggregators would share the dias...They are coming and make announcement together that they would be working with brand Patanjali," Tijarawala said, adding that through this arrangement Patanjali's product could be served across the globe.
However, he refused to share further details and arrangements with the online retailers.