Reliance Brands is in advance stage of talks to take over the India rights for premium make-up and wonder retail chain Sephora, from Arvind Fashions, in accordance to two individuals in the know.
The Mukesh Ambani-led retail firm is already in talks with builders to lease out shops for Sephora, mentioned one of many above talked about sources.
While Reliance Brands was but to reply Business Standard’s question, an Arvind Fashions spokeperson, in an e-mailed response, mentioned: “As per firm coverage, we don’t touch upon market rumours and hypothesis.”
In 2015, Arvind took over the franchise of Sephora, a part of French luxurious firm LVMH Moët Hennessy Louis Vuitton, from DLF Brands.
This newest growth comes at a time when Reliance Retail is trying to enter the FMCG and private care market and strengthen its place in the retail market.
Reliance Brands is a subsidiary of Reliance Retail Ventures — the retail arm of billionaire Mukesh Ambani’s Reliance Group.
It started operations in 2007 with a mandate to launch and construct world manufacturers in the posh to premium segments throughout vogue and life-style.
It has a portfolio of brand name partnerships with main world manufacturers, together with Armani Exchange, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Versace, Villeroy & Boch, and West Elm.
Reliance Brands additionally not too long ago forayed into the meals and drinks retail area with a long-term franchise partnership with Pret a Manger — a world contemporary meals and natural espresso chain.
It has additionally picked up stake in varied Indian designer companies, as effectively.
Last yr, it entered right into a strategic partnership with investments in Manish Malhotra’s model and likewise made an fairness funding in dressmaker Raghavendra Rathore’s firm; it has joint ventures with vogue designers Rahul Mishra and Anamika Khanna, too.