LVMH buys stake in Gitanjali

Louis Vuitton Moet Hennessey, through its unit L Capital, is set to acquire a minority stake

in Gitanjali Gems. L Capital will pick up stake using money from its $500 million L Capital Asia Fund, which was raised in 2010. Gitanjali was founded in India in 1966 as a single company specialized in cutting and polishing diamonds for the jewelry trade. The company integrates all operations, from rough diamond sourcing, cutting, polishing and distribution, and jewelry manufacture, to jewelry branding and retail, as well as global lifestyle brands, in India and abroad.

LVMH is a France-based luxury conglomerate. A world leader in luxury, LVMH possesses a unique portfolio of over 60 prestigious brands. The Group is active in five different sectors: wines and spirits, fashion and leather goods; perfumes and cosmetics; watches and jewelry; and selective retailing. Thanks to its brand development strategy, and the expansion of its international retail network (more than 2,500 stores worldwide), LVMH has had a strong growth dynamic since its creation in 1987. It carries out a number of initiatives through its commitment to protecting the environment. The group is also involved in culture and heritage, humanitarian action, education and supporting young artists and designers.