Arvind partners Sephora for entry into cosmetics and beauty business

Ahmedabad: Textile firm Arvind Ltd on Friday announced its entry into the beauty and cosmetics segment through a partnership with Sephora, owned by LVMH Moet Hennessy Louis Vuitton, a French luxury conglomerate.

With this partnership, Arvind will manage Sephora’s portfolio of three stores in Delhi and one in Pune. Sephora is the world’s largest cosmetic products retailer with a presence in 31 countries. The Times of India reported on Thursday that the two companies were set to strike a deal.

“Sephora and Arvind will build our brand in a promising market where our unique and differentiating concept has a strong power of attraction and will make premium beauty more accessible to the Indian consumer. On top of the physical stores, we are thrilled to announce, this partnership will also extend to the Internet sphere whose growth has been and is expected to be phenomenal in India,” said Olivier Schaeffer, Sephora’s global chief operating officer.

Arvind will lead the geographical retail expansion of Sephora with a focus on urban centres through key beauty categories of make-up, fragrances, skincare and haircare.

“The addition of Sephora to Arvind’s bouquet of fashion brands further strengthens our position in the fashion and lifestyle segment,” said J. Suresh, managing director and chief executive officer, Arvind Lifestyle Brands Ltd.

Arvind aims to add 40-45 stores in the next four years and expects to reach a turnover of Rs.500 crore through this new venture, according to J. Suresh.

The beauty and personal care market is around Rs.15,000 crore, of which the premium market is Rs.2500 crore and growing at a compounded growth rate of 25%, according to projections made by Arvind.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.