L Capital to pick up Genesis Luxury Fashion, eyeing retail expansion

L Capital Asia, private equity arm of the world’s largest luxury conglomerate LVMH Group and Groupe Arnault, is betting big on India. A little less than a week after it announced its acquisition of a 25.5 percent stake in Genesis Luxury Fashion, it is in talks to pick up an additional 14.5 percent stake in the company. As per negotiations between the entities, the second tranche of investment is expected to close over the next 12-36 months, and the PE fund plans to infuse Rs 60-100 crore to facilitate the company’s expansion in retail space. Gradual expansion in the high-end retail segment will bring in a new business opportunity to the companies engaging in retail store graphics, POPs and other activities.