Indian retail conglomerate, Reliance Retail, is reported to be in talks to take over the rights for LVMH-owned beauty retailer Sephora from Arvind Fashions, reports Mint.
Arvind Fashions secured Sephora’s master franchise rights for India in 2015. Since then, the operator has opened 25 stores across 13 cities in the country, offering high-end beauty products ranging from Bobbi Brown, Lancome, and Estee Lauder to Guerlain.
Reliance Retail, Sephora and Arvin Fashions have not yet responded to media questions.
The source however told Mint that the transition to the new partner is “underway” and will come about in a couple of months. The deal, if it proceeds, will further increase Reliance Retail’s market share in the luxury sector, after the company snapped up a series of international fashion brands during the past year. In July, the retailer was also reported to be in discussion with London-based luxury department store Fortnum & Mason to bring the retail chain into India.
Reliance Retail is a subsidiary of Reliance Retail Venture Ltd (RRVL), which owns a portfolio of fashion and lifestyle brands, including Abraham & Thakore and Clovia. The company earlier this year signed a long-term franchise deal with Gap after the American fashion brand parted ways with Arvind Fashions in 2020.
Its sister company, Reliance Brands, has also recently inked deals with a series of luxury brands, including Balenciaga, Maison Valentino, and Tod’s.