This move aims to strengthen Reliance's position in the beauty market and compete with rivals like Nykaa and Shoppers Stop.
Reliance Retail, the country's leading organised retailer, is in discussions with Italian beauty brand Kiko Milano to acquire its operations in India. This move aims to strengthen Reliance's position in the beauty market and compete with rivals like Nykaa and Shoppers Stop. The talks come after Reliance Retail's recent acquisition of the Sephora beauty business in November last year, a deal worth Rs 216 crore, reported Financial Express.
The report further stated that discussions are underway to acquire the 51:49 India joint venture between Italy's Percassi Group and New Delhi-based DLF Brands, which operates 8-10 Kiko Milano stores across Mumbai, Delhi, Pune, Bengaluru, and Noida.
The potential deal, estimated at around Rs 100 crore, may include franchise rights for the Kiko Milano brand in India.
Reliance Retail, when contacted for a response, stated, "As a policy, we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis." The report further stated that Reliance Retail is strategically building a portfolio of beauty retail brands to capitalise on the expanding beauty and personal care (BPC) market in India.
Reliance Retail has already ventured into the beauty market with Tira, a premium offline-and-online beauty destination launched last year, and Blushlace, catering to tier 2 and 3 cities with value-focused beauty and innerwear products.
While Sephora targets the mid-to-premium segment, Kiko Milano, an international brand, caters to the premium end of the BPC market.
With Reliance Retail's expanding presence in the beauty sector, global brands are eyeing India for expansion opportunities.
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