BENGALURU, Sept 21 (Reuters) – Reliance Retail, run by Indian billionaire Mukesh Ambani’s conglomerate Reliance Industries Ltd (RELI.NS), is in advanced talks to secure the rights to beauty retailer Sephora in India, reported on Wednesday the Mint newspaper, citing two people with knowledge of the matter.
Sephora’s operations will transfer from Arvind Fashions Ltd (ARVF.NS) to Reliance Retail if a deal is reached, according to the report. Reliance, Arvind Fashions and Sephora did not immediately respond to Reuters requests for comment.
Sephora, owned by French luxury goods group LVMH (LVMH.PA), has 25 stores in 13 cities in India with brands in categories including cosmetics, fragrances, skincare, make-up and bathrobes. hair care, according to Arvind Fashions’ annual report for the financial year. year 2021-22. (https://bityl.co/EcXx)
Reliance plans to build a portfolio of 50-60 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 larger outlets. sale across the country, sources told Reuters in May. Read more
Earlier this year, Reliance signed a long-term franchise agreement with French fashion house Balenciaga and partnered with Gap Inc (GPS.N) to sell the US clothing retailer’s brands locally. Read more
Reporting by Nishit Navin in Bengaluru; Editing by Krishna Chandra Eluri
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