Luxury French brand Louis Vuitton (LVMH), one of the global MNCs, wants to buy stakes in Baba Ramdev’s Pantanjali Ayurved.
According to a report in Economic Times, Ravi Thakran, managing partner of L Catterton Asia (a private equity fund co-owned by LMVH) said that they would love to work with Baba Ramdev if any kind of business model materialises. Thakran even said that he’s aware of the fact that Baba Ramdev’s model is to not to work with multinationals and with foreign money. He added, “We’re ready to put USD 500 million, which is half of its remaining Asia fund into Patanjali, one of the topmost FMCG companies in India.”
Thakran said that Patanjali has been a ‘disruptor’ in its categories and has taken Indian-ness and celebrated it. Acharya Balakrishna, MD of Patanjali Ayurved said, “Our company won’t give stake to anyone but we’re are ready to talk to L Catterton. We won’t accept any money in the form of equity or shares. If the country is using foreign technology for progress and if foreign money comes and gives us on our conditions we will accept,” Balakrishna said to Economic Times.