Louis Vuitton wants to take anti-MNC Ramdev's Patanjali global

NEW DELHI, INDIA - MAY 4: Acharya Balkrishna, Managing Director, Patanjali Ayurveda, with Yog Guru Baba Ramdev during a Patanjali's annual press conference announces the opening of Patanjali Aavasiya Sainik School this year, on May 4, 2017 in New Delhi, India. During the press conference, Baba Ramdev announced Patanjali's annual turnover of the fiscal year 2016-17, and said it was at Rs. 10,000 crore. Patanjali Ayurved Ltd., which Ramdev set up in 2006, has seen phenomenal growth in last few years, clocking a reported Rs. 10,561 crore revenue in the year, ended March 31, 2017. (Photo by Vipin Kumar/Hindustan Times via Getty Images)

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Private equity fund L Catterton, which is co-owned by  French luxury group LVMH Moët Hennessy Louis Vuitton SE — also known as Louis Vuitton (LVMH) — is keen on buying a stake in Baba Ramdev's Patanjali Ayurved, according to a report the The Economic Times.

"We would love to work with him if we can find a model," L Catterton Asia Managing Partner Ravi Thakran told the paper. He also said he is aware that Ramdev's business model does not support working with multinational companies and with foreign money or brands.

The L Catterton private equity fund is co-owned by Louis Vuitton. They claim to be ready to bet USD 500 million, which is close to half of their remaining funds in Asia, to buy a stake in the Patanjali enterprise.

Patanjali has emerged to be one of the fastest growing FMCGs by attaching the 'Swadeshi' label on their products. They managed to outrun their global and local competitors who had already been a part of the market. In order to compete with Patanjali,  Hindustan Unilever, Colgate Palmolive and Dabur were forced to recreate and ramp up their ayurvedic products.

"Patanjali has the potential to go to the world and I can tell you today that Patanjali has been a disruptor in its category, as strong a disruptor as many of the global disruptors are and it has taken Indian-ness and celebrated it with pride," Thakran told the paper. He said L Catterton can help Patanjali go international and expand its markets in US, Japan, China, South Korea and Europe.

Even though Patanjali is seeking for funding companies, the offer from Louis Vuitton may not bear fruit. This is because Ramdev has always portrayed his brand to be anti-multinational.