Sephora and Reliance Retail Ventures to form a joint venture.

Sephora, a French multinational retailer of personal care and beauty products with nearly 340 brands, along with its own private label, Sephora Collection, and includes beauty products such as cosmetics, skincare, fragrance, nail color, beauty tools, body lotions and haircare, and Reliance Retail Ventures, a company that offers consumer electronics, food and grocery, and fashion and lifestyle products to form a joint venture, to build and enhance Sephora's presence in India across channels. Financial terms were not disclosed. "We are tremendously excited to partner with the largest retail group in India to step-change our business. Rising affluence, increasing urbanisation and the proliferation of social media have driven greater awareness of self-care and beauty, unlocking major opportunities for prestige beauty. It is an opportune time for us to invest in expanding our presence, and bring new, exciting, and exclusive brands to delight our growing community of beauty enthusiasts. We are equally grateful to Arvind for their partnership over the past eight years to get us positioned for the next stage of growth," Alia Gogi, Sephora Asia President.