World's largest fashion brand Louis Vuitton Malletier (LVM) has started spreading its wings into hot Indian retail market through the acquisition of an existing Indian company.
LVM is division of world's largest fashion group Louis Vuitton Moet Hennessey (LVMH).
Several brands of LVMH like Tag Heuer and Christian Dior are already available in India.
LVMH will run only Loius Vuitton branded products through this venture.
LVMH has acquired 51 percent stake in Mumbai's LV Trading (LVT India), which has two stores one in Mumbai and other in Delhi.
LVMH has purchased majority stake with an investment of Rs1.5 crore.
Company is also purchasing 2.5 lakh zero coupon redeemable non convertible preference shares at a premium of Rs 2.87 crore.
LVM specialises in manufacturing and marketing luxury products in leather goods, ready to wear, shoes, watches, jewellery, textiles, writing instruments, luggage, bags, sunglasses and accessories.
LVMH is already selling these products through its two stores in India.
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