By  on August 22, 2012

NEW DELHI — A business in which L Capital, LVMH Moët Hennessy Louis Vuitton’s investment arm, has just bought an 8 percent stake might not make caution its primary strategy. But William Bissell, managing director of Fabindia, one of India’s leading ethnicwear retailers, is best known for his considered decision making. So, three months after L Capital — which has a $640 million fund for investments in India and China — acquired a piece of the company, Bissell is still talking about restraint.

In an exclusive interview, the first since L Capital put the money into the chain, Bissell said, “Cautious growth is our motto for 2012. Cautious because it’s a turbulent time. Growth, because the Indian economy is still ripe for a lot of growth.”

L Capital clearly sees that potential. India’s textile and apparel industry is growing fast: According to consulting firm Technopak, the industry’s revenues are expected to more than triple from the present $70 billion to $220 billion by 2020, which includes both domestic consumption and exports.


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