PARIS — Sephora has partnered with Reliance Beauty and Personal Care Ltd. to assist develop prestige beauty retailing in India.

The LVMH Moët Hennessy Louis Vuitton-owned retailer said Friday that it has teamed with the wholly owned subsidiary of Reliance Retail Ventures Ltd., or RRVL, giving it exclusive rights to construct Sephora’s presence within the country cross-channel.

As a part of the deal, Reliance Beauty & Personal Care will take over the India operations of Sephora’s 26 stores in 13 cities from Arvind Fashions Ltd.

Arvind Fashions said in a stock exchange filing that the transaction was made at an enterprise value of two.16 billion rupees, or $25.96 million, which matches toward the sale of its entire equity stake and loan repayment. The group’s beauty division reported sales of three.37 billion rupees in its 2023 fiscal 12 months, ended March 31.

“During this era of transition, the stores and website will likely be operating business as usual,” Sephora said in an announcement. “Reliance Beauty & Personal Care Ltd. operates the sweetness business for RRVL, and this partnership will boost its portfolio of offerings.”

Sephora said the Indian beauty and private care market remains to be in its infancy, currently generating $17 billion and advancing at an 11 percent compound annual growth rate.

The retailer called India “considered one of the most important untapped consumer markets globally.”

RRVL is India’s largest retailer and among the many fastest-growing worldwide, in accordance with Sephora, which added: “It also uniquely combines deep consumer insights with unparalleled customer access, each offline and digitally.”

Sephora, considered the world’s largest omnichannel prestige beauty retailer, first entered India in late 2012. “We’re tremendously excited to partner with the most important retail group in India to step-change our business,” said Alia Gogi, Sephora’s Asia president, within the statement. “Rising affluence, increasing urbanization and the proliferation of social media have driven greater awareness of self care and sweetness, unlocking major opportunities for prestige beauty.

“It’s an opportune time for us to speculate in expanding our presence, and convey latest, exciting and exclusive brands to thrill our growing community of beauty enthusiasts,” she continued. “We’re equally grateful to Arvind for his or her partnership over the past eight years to get us positioned for the subsequent stage of growth.”

“The burgeoning Indian beauty market is being propelled by a latest generation of consumers with a powerful desire to precise their individuality, rising aesthetic refinement and a growing number of ladies within the young workforce of India,” said V. Subramaniam, director of RRVL. “The Indian consumerism journey is at a tipping point, providing the proper tailwind to this partnership. Importantly, this partnership will help us straddle across the worth chain in the sweetness and private care segment.”

When Sephora launched in India it was received with great enthusiasm. There was not much competition. Baccarose-owned Parcos was considered one of the country’s largest beauty distributors and it now has greater than 60 doors.

Sephora’s past series of partnerships within the country have surprised industry analysts, since none of them had been been with big beauty players.

Sephora first launched in India with Genesis Luxury, among the many foremost luxury groups on the time. It had received funding from the LVMH-owned investment fund L Capital (now L Catterton), and partnered with brands comparable to Burberry, Paul Smith, Canali, Jimmy Choo and Bottega Veneta. Genesis had no experience in beauty.

Then in 2014 Sephora modified partners, teaming with DLF Brands, which on the time had a strength in mall real estate and global brands, but with none in beauty. A 12 months later, Sephora linked with Arvind Brands, which later became Arvind Fashions. Although Arvind had an enormous portfolio of world brands, none was a beauty player.

As Sephora’s latest store openings slowed down during the last two years, market rumors abounded that it could change hands again.

Reports indicate talks with RRVL failed last 12 months. Then in April, RRVL launched Tira, its own beauty omnichannel store, and planned an enormous rollout.