Mumbai: Integrated textiles and apparel firm Arvind on Friday entered the cosmetics segment through a tie-up with leading beauty retailer Sephora, owned by French luxury conglomerate LVMH Moet Hennessey Louis Vuitton.
Arvind will manage Sephora's portfolio of three stores in Delhi and one in Pune, the company said in a statement.
It will lead the geographical retail expansion of Sephora with a focus on urban centres through the key beauty categories of makeup, 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 of Arvind Lifestyle Brands.
"Overall, the beauty and personal care market is around Rs 15,000 crore, of which premium market is Rs 2,500 crore and growing at a compound rate of 25 per cent," he said.
"Given this large opportunity, we expect Sephora to reach a turnover of Rs 500 crore in the next four years with 40-45 stores," he added.
The two companies will build the brand to make premium beauty more accessible to the Indian consumer, Sephora Global Chief Operating Officer Olivier Schaeffer said.
"On top of the physical stores, this partnership will also extend to the internet sphere whose growth is expected to be phenomenal in India," Schaeffer said.
The company is looking to establish itself as a brand that builds consumer connects directly.
RECOMMENDED FOR YOU
POPULAR