Retail in Asia

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French luxury fund L Capital front runner to buy India’s Lilliput

Cash-strapped Lilliput, India’s largest kidswear brand, may soon get a luxury makeover.

L Capital, the private equity (PE) arm of LVMH, the world’s largest luxury goods group, has emerged the front runner to buy Lilliput’s retail assets, brand and liabilities, according to three people involved in the negotiations

Recently, Lilliput founder Sanjeev Narula and estranged private equity investors Bain Capital and TPG had initiated a slump sale, wherein the assets, brand and liabilities would get transferred to a new company and then sold to a third party. The shareholders had roped in Avendus and Grant Thornton to advise on the sale.