PARIS – Sephora has partnered with Reliance Magnificence and Private Care Ltd. to assist develop status magnificence retailing in India.
The LVMH Moët Hennessy Louis Vuitton-owned retailer mentioned Friday that it has teamed with the wholly owned subsidiary of Reliance Retail Ventures Ltd., or RRVL, giving it unique rights to construct Sephora’s presence within the nation cross-channel.
As a part of the deal, Reliance Magnificence & Private Care will take over the India operations of Sephora’s 26 shops in 13 cities from Arvind Fashions Ltd.
“Throughout this era of transition, the shops and website shall be working enterprise as traditional,” Sephora mentioned in an announcement. “Reliance Magnificence & Private Care Ltd. operates the wonder enterprise for RRVL, and this partnership will enhance its portfolio of choices.”
Sephora mentioned the Indian magnificence and private care market continues to be in its infancy, presently producing $17 billion and advancing at an 11 p.c compound annual development charge.
The retailer referred to as India “one of many largest untapped shopper markets globally.”
RRVL is India’s largest retailer and among the many fastest-growing worldwide, in response to Sephora, which added: “It additionally uniquely combines deep shopper insights with unparalleled buyer entry, each offline and digitally.”
Sephora, thought of the world’s largest omnichannel status magnificence retailer, first entered India in 2012.
“We’re tremendously excited to accomplice with the biggest retail group in India to step-change our enterprise,”mentioned Alia Gogi, Sephora’s Asia president, within the assertion. “Rising affluence, growing urbanization and the proliferation of social media have pushed higher consciousness of self-care and wonder, unlocking main alternatives for status magnificence.
“It’s an opportune time for us to put money into increasing our presence, and produce new, thrilling and unique manufacturers to please our rising neighborhood of magnificence fans,” she continued. “We’re equally grateful to Arvind for his or her partnership over the previous eight years to get us positioned for the following stage of development.”
“The burgeoning Indian magnificence market is being propelled by a brand new era of consumers with a powerful want to precise their individuality, rising aesthetic refinement and a rising variety of ladies within the younger workforce of India,” mentioned V. Subramaniam, director of Reliance Retail Ventures. “The Indian consumerism journey is at a tipping level, offering the proper tailwind to this partnership. Importantly, this partnership will assist us straddle throughout the worth chain in magnificence and private care phase.”