Reliance Brands is in advance stage of talks to take over the India rights for premium makeup and beauty retail chain Sephora, from Arvind Fashions, according to two persons in the know.
The Mukesh Ambani-led retail company is already in talks with developers to lease out stores for Sephora, said one of the above mentioned sources.
While Reliance Brands was yet to answer Business Standard’s query, an Arvind Fashions spokeperson, in an e-mailed response, said: “As per company policy, we do not comment on market rumours and speculation.”
In 2015, Arvind took over the franchise of Sephora, part of French luxury company LVMH Moët Hennessy Louis Vuitton, from DLF Brands.
This latest development comes at a time when Reliance Retail is looking to enter the FMCG and personal care market and strengthen its position in the retail market.
Reliance Brands is a subsidiary of Reliance Retail Ventures -- the retail arm of billionaire Mukesh Ambani’s Reliance Group.
It began operations in 2007 with a mandate to launch and build global brands in the luxury to premium segments across fashion and lifestyle.
It has a portfolio of brand partnerships with major global brands, including Armani Exchange, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Versace, Villeroy & Boch, and West Elm.
Reliance Brands also recently forayed into the food and beverages retail space with a long-term franchise partnership with Pret a Manger — a global fresh food and organic coffee chain.
It has also picked up stake in various Indian designer businesses, as well.
Last year, it entered into a strategic partnership with investments in Manish Malhotra’s brand and also made an equity investment in fashion designer Raghavendra Rathore’s company; it has joint ventures with fashion designers Rahul Mishra and Anamika Khanna, too.