JUST IN
Steady trend: PSUs hit 34% of capex target in April-August, shows data
Telecom may be first strategic sector to be picked up for privatisation
Consumer companies expect strong sales revival this festival season
Jet Airways take-off in coming weeks; in advanced talks for leasing planes
AMNS India to invest $1 billion in downstream sector: Aditya Mittal
This is why Byju Raveendran's last 6 months were 'toughest', reveals wife
Stay committed to patients in India and Fortis Healthcare, says IHH
Piramal Finance MD sees no slowdown in credit growth despite rising rates
E-com giants clock $3.5 billion in first four days of festival sales
Ontario Teachers' opens India office, hires Keki Mistry as advisor
You are here: Home » Companies » News
Govt forms 5-member committee to review pharma marketing practices
E-com firms ramp up hiring delivery staff to meet festival season demand
Business Standard

Reliance Retail in talks to get rights for beauty retailer Sephora: Report

The move could result in Sephora's operations transfer from Arvind Fashions Ltd, according to the report

Topics
Reliance Retail

Reuters 

Sephora

Reliance Retail, run by Indian billionaire Mukesh Ambani's conglomerate Reliance Industries Ltd, is in advanced talks to get the rights for beauty retailer Sephora in India, the Mint newspaper reported on Wednesday, citing two people familiar with the matter.

Sephora's operations will transfer from Arvind Fashions Ltd to Reliance Retail if an agreement is reached, according to the report. On Wednesday, Arvind Fashions' shares on BSE rose 11% to Rs 327.55 apiece.

Reliance, Arvind Fashions and Sephora did not immediately respond to Reuters' requests for comment.

Sephora, owned by French luxury goods group LVMH, has 25 stores in 13 cities in India with brands in categories such as cosmetics, fragrances, skincare, makeup and hair care, according to Arvind Fashions' annual report for the financial year 2021-22.

Reliance plans to build a portfolio of 50 to 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 bigger retail outlets across the nation, sources had told Reuters in May.

Earlier this year, Reliance had signed a long-term franchise deal with French fashion house Balenciaga and partnered with Gap Inc to sell the U.S. clothing retailer's brands locally.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

Read our full coverage on Reliance Retail

First Published: Wed, September 21 2022. 17:54 IST

`
RECOMMENDED FOR YOU
.