LVMH-backed L Catterton to form consumer-focused JV: Sanjiv Mehta, the former chief executive officer of Hindustan Unilever Limited (HUL), and L Catterton, a private equity group in the United States supported by LVMH, have declared their intention to form a joint venture targeting the Indian consumer market.

With the help of its worldwide network, consumer industry expertise, and the backing of LVMH, a French conglomerate, L Catterton plans to invest in a number of consumer firms in India as part of this relationship. L Catterton is prepared to deploy capital into promising consumer firms in India, although the exact investment amount has not been disclosed.

With India’s position as the most populated country in the world and its rapid GDP growth, Michael Chu, co-CEO of L Catterton Global, highlighted the appropriate period for such investments. He was excited to further the company’s dedication to the Indian market and have an impact on how consumer landscapes will change in the future.

Under this programme, Sanjiv Mehta will take over as the Asia platform’s executive chairman for L Catterton’s India operations on April 4. Mehta has extensive expertise in the field because to his time spent in leadership roles at HUL and Unilever South Asia.

This follows a pattern in the Indian market where other big firms are also expanding their presence in the fast expanding cosmetics and beauty industry, such as Reliance Retail’s partnership with Sephora, which is owned by LVMH.

Beyond consumer firms in India, L Catterton invests beyond Asia. The firm oversees a diverse portfolio of assets, including private equity, credit, and real estate, totaling around $35 billion in equity capital.

L Catterton has been around since 1989 and has 275 investments. Among them are well-known Indian brands like Sugar Cosmetics, Jio Platforms (supported by Reliance Industries), and Drools Pet Food.