Reliance Retail wants Sephora India rights |
Indian billionaire Mukesh Ambani`s Reliance Retail, is reportedly in advanced talks to get the rights for beauty retailer Sephora in India. If an agreement is reached, Sephora`s operations will transfer from Arvind Fashions Ltd to Reliance Retail. Sephora, owned by French luxury goods group LVMH, has 25 stores in 13 cities in India with brands in categories such as cosmetics, fragrances, skincare, makeup, and hair care, according to Arvind Fashions` annual report for the financial year 2021-22. Reliance plans to build a portfolio of 50 to 60 grocery, household, and personal care brands within six months and is hiring an army of distributors to take them to mom-and-pop stores and bigger retail outlets across the nation. Earlier this year, Reliance had signed a long-term franchise deal with French fashion house Balenciaga and partnered with Gap Inc to sell the U.S. clothing retailer`s brands locally.
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