08 Nov 2023
Sephora has joined hands with Reliance Retail Ventures Limited (RRVL), taking over the operations from Arvind Fashions Limited. With this deal, Reliance Retail Ventures will have exclusive rights to expand Sephora’s presence in India. The deal is worth Rs. 990.2 million.
Alia Gogi, Asia President, Sephora, feels that this is the right time to invest and expand their presence in India as there is more urbanisation, increasing affluence, and diverse social media platforms to explore.
V Subramaniam, Director, Reliance Retail Ventures Limited added that the Indian beauty market is booming due to a breed of new generation of customers with disposable income who want to express their individuality. Moreover, the rise in number of working women and with rising consumerism, it is the best time to enter into this partnership.