Renowned luxury brand Louis Vuitton, which is famous for its expensive bags, designer shoes, is likely to invest over Rs 3000 Crore in India's leading Fast-moving consumer goods (FMCG) brand Patanjali. If all goes well, the French luxury group LVMH Moet Hennessy - Louis Vuitton, may invest a staggering 500 million USD (Rs 3250 crore) in Patanjali Ayurveda. This will be the biggest-ever foreign investment in India's FMCG brand.
Patanjali spokesperson SK Gupta Tijarawala has corroborated the same on Twitter on Thursday.
"Acharya Balkrishna (MD of Patanjali) 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," added SK Gupta.
Meanwhile, Patanjali is seeking Rs 5000 crore to set up plants in Nagpur, Greater Noida, Assam, Chhattisgarh, Andhra Pradesh, Telangana, Haryana and Rajasthan and for the cultivation of aromatic and herbal plants on 10,100 acres.