Louis Vuitton offers to invest millions in Baba Ramdev's Patanjali

Louis Vuitton offers to invest millions in Baba Ramdev's Patanjali

It would be a new milestone for both Ramdev and the company he built if Patanjali does end up accepting the offer since he known for his position against multinational corporations. Confirming reports that Patanjali was in talks with French luxury major LVMH, which is looking to invest in the firm, he said that as per Patanjali's policy, it will go with its own terms for such fund-raisings, which means there will be no sale of stake and funds will be raised at a lower rate of interest.

An Economic Times report on Thursday states that L Catterton private equity fund co-owned by LVMH is ready to invest $500 million, which is nearly half of its remaining Asia fund, in order to pick up a stake in what is now the most talked-about and the fastest growing FMCG company in the country.

ET quotes Ravi Thakran, managing partner of L Catterton Asia as saying that the fund would love to work with Patanjali if a feasible model could be worked out.

LMVH's offer comes after Patanjali Ayurveda signaled its willingness to raise funds from foreign sources to expand its business across India. Moreover, Patanjali will accept "any loan or borrowing in Indian Rupee only".

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Patanjali's spokesperson SK Gupta Tijarawala wrote on Twitter, "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". Now, L Catterton wants to buy into some of the homegrown action and is ready to bet as much as half of it's Asia budget on Patanjali.

Patanjali is looking for Rs 5,000 crore loans to set up plants in Greater Noida, Assam, Telangana, Chhattisgarh, Andhra Pradesh, Nagpur, Haryana and Rajasthan.

The phenomenal growth of Patanjali has made its competitors revamp their ayurvedic products. Its chief marketing strategy has been to propagate the message that using foreign manufactured products is reminiscent of a "slave mentality". "We are giving back to the country whatever we are earning", Ramdev said in the interview.

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