Reliance Retail is set to acquire Arvind Beauty Brands Retail, a subsidiary of Arvind Fashions responsible for managing Sephora India business, in an all-cash deal worth Rs 99 crore. Under this agreement, Reliance’s retail division will assume control of Sephora’s 26 stores across 13 cities in India, along with gaining exclusive rights to expand Sephora’s presence through various channels in the Indian market. These details were disclosed in separate filings made by Reliance and Arvind Fashions on Friday. Sephora, a prestigious beauty retail brand, is a part of the LVMH Group headquartered in France and operates more than 2700 stores worldwide.
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Reliance Retail is set to acquire Arvind Beauty Brands Retail, a subsidiary of Arvind Fashions responsible for operating Sephora India, in an all-cash deal worth Rs 99 crore. As part of this arrangement, Reliance’s retail division will assume control of Sephora’s 26 outlets in 13 Indian cities and gain exclusive rights to expand Sephora’s presence in India through various channels.
This strategic move by Reliance Retail, according to analysts, is aimed at diversifying its presence across different sectors, including beauty and fashion. With its substantial resources and extensive distribution network, expanding its reach into various segments is not a limiting factor.
Reliance Retail already manages its own omni-channel beauty platform, Tira, and adding Sephora’s India business to its portfolio will further strengthen its position in the beauty market. V Subramaniam, director at Reliance Retail Venture (RRVL), emphasized the significance of this partnership, stating that it positions them well to navigate the evolving landscape of Indian consumerism, particularly in the beauty and personal care sector.
Arvind Fashions, in a stock exchange filing, revealed its intentions to utilize the proceeds from this deal to invest in the growth of its brand portfolio and to repay debts.
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