Reliance Retail is reportedly in advanced talks to obtain the retail rights for beauty retailer Sephora and its operations in India, the Mint newspaper reported on September 21. According to the Mint, the LVMH-owned Sephora’s operations will transfer from Arvind Fashions Ltd to Reliance Retail if an agreement is reached.
“The transition to the new partner is underway and will come about in a couple of months. The move could also signal the retailer’s attempt at understanding and managing the premium beauty market in India” an anonymous source told the Mint.
Reliance, Arvind Fashions and Sephora have not yet confirmed the deal.
Sephora India has 25 stores in 13 cities with brands in categories such as cosmetics, fragrances, skincare, make-up and hair care. Its brands include Dior, Benefit, Glam Glow, Sunday Riley, Lancôme, Estee Lauder, Tom Ford Private Blend, Elizabeth Arden, Givenchy, among others.
The Sephora India retail news comes as Reliance Retail sets its eyes on the beauty and personal care market in India after dominating the apparel retail segment in the country. According to Statista, India’s revenue in the beauty and personal care market amounts to USD 25.45 bn in 2022, with the market expected to grow annually by 5.2 percent CAGR to 2026,
Established in 2007, Reliance Retail, run by Indian billionaire Mukesh Ambani’s conglomerate Reliance Industries, already has the licensing rights in India for Armani Exchange, Bally, Burberry, Canali, Furla, Jimmy Choo and dozens more international brands.
Most recently, Reliance signed a long-term franchise deal with French fashion house Balenciaga and partnered with Gap to sell the American clothing retailer’s brands locally in early 2022.
Founded in 1931, Arvind Fashion’s retail portfolio includes Arrow, U.S POLO ASSN, Flying Machine, Sephora, The Children’s Place, Calvin Klein, Tommy Hilfiger and Hanes.