 "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
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