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Published
Nov 7, 2016
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L Capital sells stake in Fabindia Overseas

Published
Nov 7, 2016

L Capital, the private equity arm of Louis Vuitton Moet Hennessy (LVMH), the world's largest luxury goods conglomerate, has sold its 16 per cent stake in India’s ethnic product company Fabindia Overseas to investment company PremjiInvest affiliate Hasham Investment and Trading Co, plus a couple of unnamed individuals for Rs730 crore (US$109 million).

L Capital sells stake in Fabindia Overseas - Fabindia


The deal also includes the sale of 4 per cent stake by L capital in Fabindia International.

L Capital invested in Fabindia through its $640-million Asia fund, whose other investments include Pepe Jeans, Princess Yachts and Grant.

It had bought an 8 per cent stake in Fabindia in 2012 from Wolfensohn Capital Partners for around Rs150 crore. At the time Fabindia was valued at Rs1875 crore.
 
Delhi-based Fabindia has more than 200 stores in 79 locations and claims to have a customer base of 3 million, which it wants to expand to 10 million in three to four years.

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