Textile magnate Sanjay Lalbhai-led Arvind Ltd has struck a deal to run the Indian operations of cosmetics and beauty retailer Sephora, owned by French luxury conglomerate Moet Hennessy Louis Vuitton (LVMH). The agreement will see Arvind bagging both store and e-commerce rights for India.
Arvind Lifestyle Brands will manage Sephora's three stores in Delhi and one in Pune. Arvind plans to add another 40 stores in the next five years.
Arvind Ltd had submitted to BSE a copy of press release dated September 10, 2015 titled "Arvind marks its entry into the beauty and cosmetics segment: Partnership with world's leading beauty retailer Sephora."
"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 CAGR of 25%. Given this large opportunity annually, we expect Sephora to reach a turnover of Rs 500 crore in the next four years with 40-45 stores," Arvind Lifestyle CEO J Suresh said.
Sephora is a visionary beauty-retail concept founded in France by Dominique Mandonnaud in 1970. Sephora's unique, open-sell environment features an ever-increasing amount of classic and emerging brands across a broad range of product categories including skincare, color, fragrance, body, smilecare, and haircare, in addition to Sephora's own private label.
Today, Sephora is not only the leading chain of perfume and cosmetics stores in France, but also a powerful beauty brand in countries around the world. As per the company’s website, Sephora operates approximately 1,900 stores in 29 countries worldwide, with an expanding base of over 360 stores across North America. Sephora opened its first U.S. store in New York in 1998, its first Canadian store in Toronto was launched in 2004. Sephora's North American headquarters is located in San Francisco, with corporate offices in New York and Montreal.
