Integrated textile and garment maker Arvind Ltd on Friday announced its entry into beauty and cosmetics segment through a partnership with Sephora, a part of French Luxury major, LVMH Moet Hennessy Louis Vuitton.
The partnership will enable Arvind to manage Sephora's portfolio of three stores in New Delhi and one in Pune. Sephora is the world’s largest and a leading beauty retailer with a presence in 31 countries.
"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 which growth has been and is expected to be, phenomenal in India," said Olivier Schaeffer, Sephora Global COO.
"This further strengthens our position in the fashion and lifestyle segment. Overall, the beauty and personal care market is around Rs. 15,000 crore, of which the premium market is Rs. 2,500 crore and growing at a CAGR of 25 per cent. Given this large opportunity, we expect Sephora to reach a turnover of Rs. 500 crore in the next four years with 40-45 stores," said J. Suresh, Managing Director & CEO, Arvind Lifestyle Brands Ltd.
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