Sephora ties up with Reliance Retail Ventures to transform India's beauty retail segment
Nov 03, 2023
MUMBAI: Sephora, the world's leading omnichannel prestige beauty retailer, announced a partnership with Reliance Beauty and Personal Care Limited, a wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL) to advance their shared ambition to develop and define the future of prestige beauty retail in India.
According to a joint release issued on Friday, the partnership gives RRVL exclusive rights to build and enhance Sephora's presence in India across channels.
Since its first foray into India in 2012, Sephora has leveraged its unique brand and product curation capabilities and strong point of view on beauty and experiential retail to cater to the beauty needs of India's vast consumer base.
"We are tremendously excited to partner with the largest retail group in India to step-change our business. Rising affluence, increasing urbanisation and the proliferation of social media have driven greater awareness of self-care and beauty, unlocking major opportunities for prestige beauty. It is an opportune time for us to invest in expanding our presence, and bring new, exciting, and exclusive brands to delight our growing community of beauty enthusiasts," Alia Gogi, Asia President, SEPHORA.
"We are equally grateful to Arvind for their partnership over the past eight years to get us positioned for the next stage of growth," Gogi added.
As part of the partnership with Sephora, Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora's 26 stores across 13 cities from Arvind Fashions Limited, as it sets in motion a plan to expand Sephora's presence in the country.
During this period of transition, the stores and website will be operating business as usual. Reliance Beauty & Personal Care Limited operates the beauty business for RRVL and this partnership will boost its portfolio of offerings.
"We are excited and proud to partner with Sephora, a global leader in beauty. The burgeoning Indian beauty market is being propelled by a new generation of customers with a strong desire to express their individuality, rising aesthetic refinement and a growing number of women in the young workforce of India. The Indian consumerism journey is at a tipping point, providing the perfect tailwind to this partnership. Importantly this partnership will help us straddle across the value chain in the beauty and personal care segment," said V Subramaniam, Director, Reliance Retail Ventures Limited.