Reliance Retail may take over India business of Sephora
26 September 2022, Mumbai:
Reliance Retail may take over the beauty retailer Sephora from Arvind Fashions.
As of now, Arvind Fashions holds Sephora’s master franchise rights for India. Sephora is a French multi-brand beauty products chain owned by the world’s top luxury goods retailer LVMH Moët Hennessy. Sephora has 24 stores in India in 12 cities.
Globally, the beauty retailer known for retailing premium cosmetics and perfumes such as Bobbi Brown, Benefit Cosmetics, Lancomeetc is present in 35 countries with over 2,700 stores.
Reliance Retail has set its eyes on the beauty and personal care market in India after dominating the apparel retail segment in the country. India’s beauty retail market is driven by a higher propensity to shop online owing to increased internet penetration as well as a largely millennial and gen-Z population with aspirations and growing disposable incomes. Reliance Retail is also inclined towards a multi-brand beauty retail concept for more mass-market brands.
Earlier this year, Reliance Retail signed a long-term franchise agreement with American apparel major Gap after the latter terminated its franchise agreement with Arvind Lifestyle Brands in 2021.
Prior to its 2015 tie-up with Arvind, Sephora’s rights rested with DLF Brands. Its operations were also managed by New Delhi-based Genesis Colours.
