Sephora partners with Reliance Beauty & Personal Care Limited to continue India expansion
07 Nov 2023 --- Sephora has entered into a partnership with Reliance Beauty & Personal Care Limited, a subsidiary of Reliance Retail Ventures Limited (RRVL), to develop its presence in India’s prestige beauty sector. The partnership gives RRVL exclusive rights to build and enhance Sephora’s presence in India across channels.
According to Sephora, the Indian beauty and personal care market is evaluated at US$17 billion and set to grow at an 11% CAGR, which is still believed to be in its infancy. This positions India as “one of the largest untapped consumer markets globally.”
“We are 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,” says Alia Gogi, Asia president at Sephora.
“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.”
Burgeoning market
Sephora first entered the Indian beauty market in 2012, and it says it has catered to the beauty needs of India’s vast consumer base.
Sephora has help from RRVL in retail expansion in India.RRVL is said to be the largest retailer in India and one of the fastest growing globally, alongside combining consumer insights with customer access, both offline and digitally.
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 transition period, the stores and website will operate as usual. Reliance Beauty & Personal Care Limited operates the beauty business for RRVL, and this partnership will boost its portfolio of offerings.
“We are excited and proud to partner with Sephora, a global leader in beauty. A new generation of customers is propelling the burgeoning Indian beauty market with a strong desire to express their individuality, rising aesthetic refinement and a growing number of women in the young workforce of India,” says V Subramaniam, Director at RRVL.
“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 the beauty and personal care segment.”
Edited by Sabine Waldeck
