Reliance Industries Joins hands with Sephora to cater beauty market

Sephora, a renowned global prestige beauty retailer, has unveiled an exciting partnership with Reliance Beauty & Personal Care Limited, a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), which is part of the vast conglomerate Reliance Industries. This collaboration aims to shape and advance the future of prestige beauty retail in India, marking a significant development in the country’s beauty industry. 

Since its initial venture into the Indian market in 2012, Sephora has utilized its distinctive brand identity, product selection expertise, and strong commitment to beauty and experiential retail to meet the diverse needs of India’s extensive consumer base. 

As part of this groundbreaking partnership, Reliance Beauty & Personal Care Limited will assume control of Sephora’s existing operations in India, encompassing 26 stores located in 13 cities. These stores, along with the e-commerce platform, will continue to operate seamlessly during the transition. This strategic move sets the stage for an ambitious expansion of Sephora’s footprint in India. Reliance Beauty & Personal Care Limited oversees the beauty business for RRVL, and this collaboration will significantly augment its portfolio of offerings in the beauty and personal care sector. The Indian beauty and personal care market is currently valued at USD 17 billion and is projected to grow at an impressive annual rate of 11%.  

Sephora, is a globally recognized leader in prestige beauty retail, serving customers in 35 markets. Through a vast network of over 2,700 stores, flagship locations, and digital platforms, Sephora offers personalized and immersive beauty experiences across multiple touchpoints. With nearly 300 brands and its proprietary Sephora Collection, the company provides an unparalleled range of prestige beauty products, catering to diverse customer needs, from fragrances to makeup, haircare, skincare, and more.  

Reliance Retail Ventures Limited, along with its subsidiaries and affiliates, operates a comprehensive omni-channel network that spans over 18,650 stores and digital commerce platforms. In the financial year ending March 31, 2023, RRVL reported a consolidated turnover of Rs 260,364 crore (approximately USD 31.7 billion) and a net profit of Rs 9,181 crore (about USD 1.1 billion). 

Today shares of Reliance Industries opened at Rs 2319.85 and closed at Rs 2319.05. The stock 52-week stands at Rs 2635.17 while its 52-week is at Rs 2012.14. The company currently boasts a market capitalization of approximately Rs 15,69,000 crore and stands as the most valuable company of the Indian equity market. 

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