Reliance Retail may buy Sephora franchise from Arvind Fashions

22 Sep 2022 , 07:55 AM

According to the Mint newspaper on Wednesday, which cited two persons with knowledge of the situation, Reliance Retail, a division of Mukesh Ambani’s conglomerate Reliance Industries Ltd., is in advanced talks to acquire the Indian rights to beauty store Sephora.

According to Arvind Fashions’ annual report for the fiscal year 2021—2022, Sephora, owned by the French luxury goods company LVMH, has 25 locations in 13 Indian cities containing brands in the skincare, fragrances, makeup, cosmetics, and hair care categories.

According to sources who spoke to Reuters in May, Reliance intends to create a portfolio of 50 to 60 food, home, and personal care brands within six months and is hiring a horde of distributors to deliver them to mom-and-pop shops and larger retail locations across the country.

Reliance had earlier this year teamed with Gap Inc. to sell the brands of the American clothing shop locally and had secured a long-term franchise agreement with the French fashion company Balenciaga.

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