L Capital Asia has full faith in Fabindia

NEW DELHI: L-Capital Asia, the largest investor in the beleaguered ethnic retailer FabIndia, says it is fully backing the retailer in light of the recent voyeurism incident in a Goa store and says the controversy was “highly politicised”. “Frankly, I don’t want to get into the nuances of Indian polity or yellow journalism,” says Ravi Thakran, chairman of L-Capital Asia.

Thakran says the LVMH-owned company is standing by the company in light of the controversy. “There is no question of us putting any pressure on FabIndia,” he says. “I have 100% faith in their integrity and compliance.” Thakran says there is no tension between the investor and the New Delhi-based retailer. “I refute of any issue between FabIndia and LCapital,” he told ET on phone from London.

“We are 100% supportive of them.” He further added that his firm has investments spanning two dozen companies in Asia. “If there is one company which I speak proudly of is FabIndia,” he said. L-Capital was speaking for the first time after a voyeurism case was filed against the company’s employees after HRD minister Smriti Irani alleged that a CCTV camera was focusing at the trial room at the company’s outlet in Candolim, Goa.