India is beauty's new growth hot spot, following recent high-profile moves in the country by brands such as Shiseido and Nars. Now Sephora has partnered with Reliance Beauty & Personal Care Limited to give the latter exclusive rights to build and grow Sephora's presence in India across physical and ecommerce channels.
Sephora has been in the market for 11 years; India's personal care sector is reportedly valued at $17 billion, per Sephora.
Under the terms of the deal, Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora's 26 stores across 13 cities from Arvind Fashions Limited. Reliance will thereafter work to upgrade and expand the retailer's presence
"We are tremendously excited to partner with the largest retail group in India to step-change our business," said Alia Gogi, Asia president, Sephora. "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. We are equally grateful to Arvind for their partnership over the past eight years to get us positioned for the next stage of growth."
"We are excited and proud to partner with Sephora, a global leader in beauty," said V. Subramaniam, director, Reliance Retail Ventures Limited. "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."
