The French luxury group is negotiating a major retail detail with Genesis Luxury Fashion, under which LVMH’s cosmetics arm Sephora would be able to operate in India under license.
The move is being viewed as way of adapting to the Indian government’s recent decision to defer direct foreign investment in multi-brand retail operations.
Under the agreement, LVMH’s private equity arm L Capital would take a minority in Genesis Luxury.
The Sephora outlets are now expected to open in India during 2012, selling cosmetics, skincare, fragrances and bodycare products across the group’s brand range.
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