L Catterton signs a strategic partnership for the Indian market

L Catterton has recently teamed up with businessman Sanji Mehta to identify investment opportunities in the country. Sanji Mehta was Chairman and Managing Director of Hindustan Unilever Limited, considered to be India's largest Fast-Moving Consumer Goods (FMCG) company and one of the most important companies in the national economic panorama. The businessman led Unilever's activities throughout South Asia (Pakistan, Bangladesh, Sri Lanka, India and Nepal), generating sales of around 7 billion euros.

In a press release, Mehta expressed his confidence in the new agreement, underlining the importance of the involvement of luxury goods giant LVMH; the latter and Bernard Arnault are partners in the Franco-American investment fund. "India currently has the largest population in the world, and this is generating significant GDP growth. There has never been a better time to support our commitment to this market", said Michael Chu, co-CEO of L-Catterton. As a reminder, it was in January 2016 that Catterton - the leading consumer-focused private equity firm -, LVMH and Groupe Arnault - Bernard Arnault's family holding company, joined forces to create L Catterton.

A number of analysts have identified the Indian market as one of the best performers in the coming years, following the exponential increase in the number of millionaires in the country. Bain & Company estimates that sales of luxury goods will triple in the next six years. According to several sources, the Indian luxury goods sector is expected to be worth over $200 billion by 2030. Louis Vuitton was the first international house to set up shop in 2002, quickly followed by other prestigious brands such as Balenciaga, Valentino, Armani, Bottega Veneta, and Ferragamo, often distributed by another giant of the Indian economy, Reliance Industries.

Although the financial details of the agreement between L Catterton and Mehta remain confidential, Mehta will take on the role of India Executive President for L Catterton's Asian platform starting this Thursday, April 4. L Catterton is a market-leading consumer-focused investment company, managing around $35 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Founded in 1989, the company has made over 275 investments in some of the world's most iconic consumer brands.