Reliance Retail eyes the French multi-brand beauty retailer Sephora
The Silicon Review
22 September, 2022
According to its FY21 annual report, Sephora has 24 stores in India in 12 cities
The retail giant Reliance is in talks to get the rights for the famous beauty retailer, Sephora in India. The move, if successful can see Sephora move its operations from its current partner, Arvind Fashions Ltd. to Reliance Retail. Arvind Fashions Ltd. hold Sephora’s master franchise rights in India. Sephora is a French multi-brand beauty products chain owned by the famous luxury goods retailer LVMH Moët Hennessy Louis Vuitton. Arvind Fashions Ltd. operates brands such as Calvin Klein, Flying Machine, USPA, Arrow, and Tommy Hilfiger in India.
According to its FY21 annual report, Sephora has 24 stores in India in 12 cities. Globally, the beauty retailer known for retailing premium cosmetics and perfumes such as Benefit Cosmetics, Lancôme, Bobbi Brown, etc. is present in 35 countries with over 2,700 stores. The move comes as Reliance Retail sets its eyes on the beauty and personal care market in India after taking over the apparel retail segment in the country. India’s beauty retail market is expected to reach ₹2 trillion by 2025 driven by a higher propensity to shop online owing to increased internet penetration as well as largely millennial and gen-Z populations with aspirations and growing disposable incomes, Motilal Oswal Financial Services Limited said in a 2021 report.
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