Ahmedabad-based apparel maker Arvind Ltd has partnered with Sephora, a part of French luxury conglomerate LVMH Moet Hennessy Louis Vuitton, to foray into beauty and cosmetics segment, according to a stock market disclosure.
Through this partnership, Arvind’s arm Arvind Lifestyle Brands will now manage Sephora’s portfolio of three stores in Delhi and one in Pune. It 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.
Realty major DLF Ltd was managing the stores till now through its retail arm DLF Brands.
“The addition of Sephora to Arvind’s bouquet of fashion brands 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 four years and expects to reach a turnover of Rs 500 crore through this new venture,” he added.
Sephora, the world’s largest beauty products retailer, has 200 exclusive brands in its portfolio. The company is present in 31 countries, including eight in Asia.
“On top of the physical stores, 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.
Shares of Arvind were trading at Rs 261.60 each, up 0.73 per cent on BSE in a strong Mumbai market on Friday at 2.42 PM.
The company that counts Multiples PE as a shareholder is already associated with several international labels as a local partner, including Arrow, Gap, Nautica, Izod, Tommy Hilfiger and Calvin Klein. It also runs value retail chain Megamart.