NEW DELHI: Reliance Retail will purchase Arvind Magnificence Manufacturers Retail, a subsidiary of Arvind Fashions that runs the Sephora India enterprise, in a Rs 99 crore all money deal. As a part of the transaction, Reliance’s retail armwill take over the operations of Sephora’s 26 shops throughout 13 Indian cities, apart from gaining unique rights to construct Sephora’s presence in India throughout channels, Reliance and Arvind Fashions mentioned in separate filings on Friday.Status magnificence retail model Sephora is a part of the France head-quarteredLVMH Group and operates greater than 2700 shops globally.
Reliance Retail’s technique, analysts mentioned, is to play throughout segments, starting from magnificence to style; with its deep pockets and broad distribution community, scaling up presence throughout areas isn’t a constraint both. Reliance Retail already runs its personal omni-channel magnificence providing Tira and with Sephora’s India enterprise inside its fold, its magnificence play will solely get bolstered, mentioned analysts.
“The Indian consumerism journey is at a tipping level…this partnership (with Sephora) will assist us straddle throughout the worth chain in magnificence and private care phase,” V Subramaniam, director at Reliance Retail Enterprise (RRVL) mentioned in a press release.
In a inventory alternate submitting, Arvind Fashions mentioned that it intends to make use of the proceeds from the deal to spend money on progress of its manufacturers portfolio and repay debt.
Reliance Retail’s technique, analysts mentioned, is to play throughout segments, starting from magnificence to style; with its deep pockets and broad distribution community, scaling up presence throughout areas isn’t a constraint both. Reliance Retail already runs its personal omni-channel magnificence providing Tira and with Sephora’s India enterprise inside its fold, its magnificence play will solely get bolstered, mentioned analysts.
“The Indian consumerism journey is at a tipping level…this partnership (with Sephora) will assist us straddle throughout the worth chain in magnificence and private care phase,” V Subramaniam, director at Reliance Retail Enterprise (RRVL) mentioned in a press release.
In a inventory alternate submitting, Arvind Fashions mentioned that it intends to make use of the proceeds from the deal to spend money on progress of its manufacturers portfolio and repay debt.
