Learn about the Reliance Retail to Acquire Sephora Beauty Business from Arvind Ltd. Find out the strategic deal between Reliance Retail and Arvind Fashion’s Sephora Retail Division.
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Arvind Fashions (AFL) is taking an exit from Sephora. The retailer consented to an offer by arrangement with Reliance Retail and Personal Care Ltd. to sell its entirely claimed auxiliary Arvind Beauty Brand Retail Ltd., which maintains the Sephora business in India. Reliance and Personal Care is a completely claimed auxiliary of Reliance Retail Ventures Ltd. This arrangement denotes the exit of Arvind Fashion from the excellence space and gives freedom to Reliance Retail to Acquire Sephora Business from Arvind Ltd company.
Talking about how much amount reliance retail paid to acquire Sephora business, Arvind Fashions has offered its Sephora India business to Reliance Retail for Rs 99 crore ($11.89 million). The agreement was made at an undertaking worth Rs 216 crores, a statement dictated by Arvind Fashion in a regulatory filing. Hence, Arvind Fashions will sell the whole value stake in Arvind Beauty Brands, which maintains its Sephora India business, to Reliance Retail for an amount of Rs 99 crore.
The Reliance Sephora Business Deal will give the whole freedom to Reliance Retail to operate Sephora in India. The Arvind Fashion Limited has entered into an agreement with Reliance Retail to sell its wholly-owned subsidiary Arvind Beauty Brand Retail Limited (ABBRL) which runs the Sephora India business, in an all-cash transaction.
Reliance Retail will assume control over the ongoing India tasks of Sephora's 26 stores across 13 urban communities from Arvind Fashion Ltd. Hence, Reliance Retail Sephora Deal has ended up giving powers in the hands of Reliance Retail. The stock filing said that the total net worth of Arvind Beauty Brands Retail in FY23 was Rs 10.6 crore, which represented 1% of the united total net worth of Arvind Fashions.
Sephora is owned by Arvind Fashions, Vivek Bali, being the CEO of Sephora India. Sephora was established in 1970 and was launched in India in 2017 to offer customers premium products and customized experience. The Asia President of Sephora, Alia Gogi, also said that the rising abundance, expanding urbanization, and social media presence have driven a more prominent consciousness of taking care of oneself and beauty, opening significant doors for esteem excellence. Furthermore, it is an ideal time to put resources into extending our presence and bring intriguing, and selective brands to enchant our developing community of beauty lovers.
Sephora India believes in powering fashion in India, being the most significant way to redefine the fashion industry in India by catering to a large mass of people who love luxury and premium brands. Sephora’s portfolio consists of over 27 leading global brands in India, consisting of something for everyone. From the brand owners to the chic youth to esteem cognizant family, and from the exploratory to the customary dressers, their brands are for the India of today and tomorrow.
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Ans - Sephora is as of now strategically situated as a subjective and one-of-a-kind brand that gives great quality cosmetic items at a reasonable estimate. The organization focuses on better quality items as opposed to selling drugstore items.
Ans -Since Arvind Fashions brought Sephora to India, the brand has now achieved heights and is located in cities like Pune, Mumbai, Bengaluru, Chennai, and New Delhi.
Ans- Reliance Retail consists of brands like Trends, Trends Woman, Trends Man, Trends Footwear, Avantra by Trends, Azorte, Centro, Reliance Jewels, and international brands like GAP, Armani, Burberry, Diesel, GAS, Marks & Spencer, Superdry, Brooks Brothers, Steve Madden and more
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