Louis Vuitton SA plans to acquire Genesis Luxury Fashion

25 January 2012: French luxury goods conglomerate Moet Hennessy Louis Vuitton SA (LVMH) is likely to clinch a multi-brand retail deal with New Delhi-based Genesis Luxury Fashion, in which the former's private equity arm L Capital holds a significant minority stake. Genesis Luxury is expected to open doors for LVMH's subsidiary Sephora, a multi-brand beauty and personal care retailer, with a licensing deal as talks failed with other contenders like Reliance Retail and Parcos, said two separate sources familiar with the matter. LVMH is finalizing plans for Sephora soon, after India deferred foreign direct investment (FDI) in multi-brand retail.

Source: Times of India