The transaction will see Reliance Retail compete with segment leaders Nykaa and the Tatas. Arvind Fashions held Sephora’s master franchisee rights in India
The country s leading retailer Reliance will acquire the beauty retail business of the Lalbhai family-promoted Arvind Fashion, expanding its play in the fast-growing Beauty and Personal Care (BPC) market.
Arvind Fashion on Friday said it has "entered into a Share Purchase Agreement (SPA) with
The country's leading retailer competes with brands like HUL's Lakme, Nykaa, Tata and LVMH's Sephora in India's growing beauty and personal care marketplace.
Over consideration of sales, the company said: "transaction has been done at an enterprise value of Rs 216 crore towards the sale of the entire equity stake and repayment of loans. The Purchase consideration towards the sale of the entire equity stake is Rs 99.02 crore."