(source: Fashion United (India))

LVMH's private equity fund, L Capital, is reportedly holding talks to buy a minority stake in India's renowned ethnic product store Fabindia. Fabindia, according to Fashion United, is looking to raise funds to fuel expansion plans and buy out the eight percent stake held by existing investor Wolfensohn Capial Partners.

Wolfensohn Capital Partners, the fund run by former World Bank President James Wolfensohn, acquired its stake in 2007.

Fabindia has 140 stores across 10 cities in India, and sells primarily textile-based products.

(Posted 23 Jan 2012)