Reliance Beauty & Personal Care, a subsidiary of Reliance Retail Ventures, has acquired Arvind Beauty Brands Retail, securing the exclusive rights to expand and enhance the presence of global beauty retailer Sephora in India. This strategic purchase was executed for a sum of Rs 99.02 crore and an enterprise value of Rs 216 crore, which included the sale of the entire equity stake and loan repayment. As part of the deal, Reliance will take control of Sephora's 26 stores across 13 Indian cities from Arvind Fashions, with plans to further expand the brand's footprint in the country. Sephora first entered the Indian market in 2012.
The partnership with Reliance, India's largest retail group, presents an exciting opportunity to tap into the thriving Indian beauty market, valued at $17 billion and projected to grow at an 11% CAGR. This collaboration positions India as one of the world's largest untapped consumer markets in the beauty and personal care segment. The rising affluence, urbanization, and increased focus on self-care and beauty make it an ideal time for Sephora to introduce new and exclusive brands to cater to the growing community of beauty enthusiasts in India.
Alia Gogi, Asia President of Sephora, expressed her enthusiasm for the partnership and acknowledged Arvind Fashions for their support over the past eight years. V Subramaniam, Director of Reliance Retail, emphasized the transformation in the Indian beauty market driven by a new generation of consumers seeking self-expression and aesthetic refinement. This collaboration with Reliance Retail Ventures will enable Sephora to span the entire value chain in the beauty and personal care sector, capitalizing on India's burgeoning consumerism and strong market potential.