PARIS – Sephora has partnered with Reliance Beauty and Personal Care Ltd. to help develop prestige beauty retailing in India.
The LVMH Moët Hennessy Louis Vuitton-owned retailer said Friday that it has teamed with the wholly owned subsidiary of Reliance Retail Ventures Ltd., or RRVL, giving it exclusive rights to build Sephora’s presence in the country cross-channel.
As part of the deal, Reliance Beauty & Personal Care will take over the India operations of Sephora’s 26 stores in 13 cities from Arvind Fashions Ltd.
“During this period of transition, the stores and web site will be operating business as usual,” Sephora said in a statement. “Reliance Beauty & Personal Care Ltd. operates the beauty business for RRVL, and this partnership will boost its portfolio of offerings.”
Sephora said the Indian beauty and personal care market is still in its infancy, currently generating $17 billion and advancing at an 11 percent compound annual growth rate.
The retailer called India “one of the largest untapped consumer markets globally.”
RRVL is India’s largest retailer and among the fastest-growing worldwide, according to Sephora, which added: “It also uniquely combines deep consumer insights with unparalleled customer access, both offline and digitally.”
Sephora, considered the world’s largest omnichannel prestige beauty retailer, first entered India in 2012.
“We are tremendously excited to partner with the largest retail group in India to step-change our business,”said Alia Gogi, Sephora’s Asia president, in the statement. “Rising affluence, increasing urbanization and the proliferation of social media have driven greater awareness of self-care and beauty, unlocking major opportunities for prestige beauty.
“It is an opportune time for us to invest in expanding our presence, and bring new, exciting and exclusive brands to delight our growing community of beauty enthusiasts,” she continued. “We are equally grateful to Arvind for their partnership over the past eight years to get us positioned for the next stage of growth.”
“The burgeoning Indian beauty market is being propelled by a new generation of customers with a strong desire to express their individuality, rising aesthetic refinement and a growing number of women in the young workforce of India,” said V. Subramaniam, director of Reliance Retail Ventures. “The Indian consumerism journey is at a tipping point, providing the perfect tailwind to this partnership. Importantly, this partnership will help us straddle across the value chain in beauty and personal care segment.”