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...
Continue reading
0 Comments
