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The Associated Press April 26, 2011, 3:13AM ET

LVMH private equity fund eyes Asian brands

A private equity fund that's part of luxury goods maker LVMH Group is aiming to invest $650 million in quality lifestyle brands in China and India.

L Capital Asia Managing Partner Ravi Thakran said Tuesday the fund has already invested $90 million in minority stakes in Singapore watch retailer Sincere, shoe store Charles & Keith and Chinese jeweler Emperor.

Ravi said the fund will likely invest $200 million in companies this year, including a women's clothing chain in China and another in India within the next 60 days.

Ravi said he expects the fund to eventually have investments in 14 companies that fall below the level of top global luxury brands but are above mass consumer goods.

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