India investment for L Catterton
Investment firm L Catterton has announced a new joint venture in India. The investment company, which is backed by luxury group LVMH, is to launch a new investment vehicle in India with locally based executive Sanjiv Mehta.
Mr Mehta stepped down from a senior role at consumer goods group Unilever in June 2023. He will now become L Catterton’s executive chairman for India and will also be involved in the firm’s other global fund platforms.
He said he held “deep respect” for the way L Catterton operates and creates value, adding: “I look forward to working closely with the team and helping to capitalise on the significant opportunities ahead.”
For his part co-chief executive of L Catterton, Michael Chu, said there had never been a better time for the investment firm to make this move in India. He pointed out that the country now has the largest population of any in the world and that its economy was growing steadily.
He said L Catterton would invest in consumer businesses in India that will “shape the landscape of tomorrow”.
