LVMH confirmed earlier this week it will be investing US$ 25 million in the development of premium fashion brand Charles and Keith in India. Based in Singapore, Charles & Keith, the eponymous fashionable shoe brand, was launched in 1996 and currently has a retail network of over 230 stores in 29 countries, most of them in Asia and Middle East.
LVMH has launched a private equity fund of $650 million dedicated to investments focused on markets like China, Southeast Asia and India. “The company is strengthening its presence in India and will spend over $25 million in expanding Charles and Keith in Chennai, Kolkata, Bengaluru, Lucknow and Ludhiana. We are planning to have 40-50 new stores in India,” Ravi Thakran, managing partner of L Capital Asia, told The Financial Express.
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