L Capital Asia to Invest Another US$14 Million in Genesis Luxury (Asia)
Source: VCCircle | Author: Madhav A. Chanchani
L Capital Asia, the Asia-focused private equity fund sponsored by French company LVMH Group, has invested INR750 million (approximately US$14 million) in Genesis Luxury Fashion, the marketing and distribution arm of Indian fashion group Genesis Colors. This is the US$635 million L Capital Asia Fund’s second investment in the company, following an INR600 million (approximately US$11.4 million) investment for a 26 percent stake in 2011. As part of the transaction, L Capital Asia will also invest in Genesis Luxury Fashion's subsidiary GLF Lifestyle, the marketer and distributor in India for body and home products brand Crabtree & Evelyn.