L Capital Asia in talks for $150m stake in India’s Raymond Apparel

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The Asian private equity arm of iconic luxury goods conglomerate LVMH is in talks to buy an INR7.5bn ($150m) minority stake in Raymond Apparel, in what could be the largest private equity transaction in an Indian clothing company.

According to the Economic Times, the company, which owns several brands including Park Avenue, Parx and Notting Hill, will use the capital to finance an acquisition in the domestic market and expand both regionally and internationally.

Although the size of the stake was not disclosed, another source close to the newspaper estimated it to be between ten and 20 per cent of the business.

The news comes less than a week after L Capital Asia managing partner Ravi Thakran told AltAssets that the firm had completed its eighth deal and is due to seal its second exit during the first half of this year.

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