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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.

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