L Capital, the investment firm co-funded by luxury group LVMH, is in talks to buy a stake in Indian jewellery retailer Gitanjali, newswire Reuters said.

L Capital, the investment firm co-funded by luxury group LVMH, is in talks to buy a stake in Indian jewellery retailer Gitanjali, newswire Reuters said.

The deal is estimated between $100m and $125m, Reuters said.