11.06.23
Sephora, the omni-channel prestige beauty retailer, has partnered with Reliance Beauty & Personal Care Limited, a wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL), to expand its presence in India. The partnership gives RRVL exclusive rights to build and enhance Sephora's presence in India across channels.
According to GlobalData, the makeup market in India is forecasted to grow at a compound annual growth rate (CAGR) of 9.6% from $1.2 billion in 2020 to $1.6 billion in 2025.
"We are tremendously excited to partner with the largest retail group in India to step-change our business. 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," said Alia Gogi, Asia President, Sephora.
"We are excited and proud to partner with Sephora, a global leader in beauty. 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. The Indian consumerism journey is at a tipping point, providing the perfect tail wind to this partnership. Importantly this partnership will help us straddle across the value chain in beauty and personal care segment," added V Subramaniam, Director, Reliance Retail Ventures Limited.
As part of the partnership with Sephora, Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora's 26 stores across 13 cities from Arvind Fashions Limited, as it sets in motion a plan to expand Sephora's presence in the country.
During this period of transition, the stores and website will be operating business as usual. Reliance Beauty & Personal Care Limited operates the beauty business for RRVL and this partnership will boost its portfolio of offerings.
According to GlobalData, the makeup market in India is forecasted to grow at a compound annual growth rate (CAGR) of 9.6% from $1.2 billion in 2020 to $1.6 billion in 2025.
"We are tremendously excited to partner with the largest retail group in India to step-change our business. 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," said Alia Gogi, Asia President, Sephora.
"We are excited and proud to partner with Sephora, a global leader in beauty. 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. The Indian consumerism journey is at a tipping point, providing the perfect tail wind to this partnership. Importantly this partnership will help us straddle across the value chain in beauty and personal care segment," added V Subramaniam, Director, Reliance Retail Ventures Limited.
As part of the partnership with Sephora, Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora's 26 stores across 13 cities from Arvind Fashions Limited, as it sets in motion a plan to expand Sephora's presence in the country.
During this period of transition, the stores and website will be operating business as usual. Reliance Beauty & Personal Care Limited operates the beauty business for RRVL and this partnership will boost its portfolio of offerings.
