December 4, 2022

Reliance Retail, a division of Mukesh Ambani’s conglomerate Reliance Industries Ltd., is in advanced talks to acquire the Indian rights to beauty store Sephora. If an agreement is completed, the operations of Sephora will move from Arvind Fashions Ltd to Reliance Retail.

According to Arvind Fashions’ annual report for the fiscal year 2021–2022, Sephora, owned by the French luxury goods company LVMH, has 25 locations in 13 Indian cities featuring brands in the cosmetics, fragrances, skincare, makeup, and hair care categories.

(source : Reuters)

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