Reliance Retail Eyes Kiko Milano’s India Operations in Strategic Expansion

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Reliance Retail Eyes Kiko Milano’s India Operations in Strategic Expansion

| Updated: March 5, 2024 16:12

Reliance Retail, led by Mukesh and Isha Ambani, is reportedly in discussions with Italian beauty brand Kiko Milano to acquire its operations in India. This strategic move aims to strengthen Reliance’s position in the beauty market and intensify competition with key rivals such as Nykaa and Shoppers Stop.

This development follows Reliance Retail’s recent acquisition of the Sephora beauty business in November last year, valued at Rs 216 crore, according to a Financial Express report.

Sources indicate that negotiations are underway to secure the 51:49 India joint venture between Italy’s Percassi Group and New Delhi-based DLF Brands. This joint venture currently oversees 8-10 Kiko Milano stores spread across Mumbai, Delhi, Pune, Bengaluru, and Noida.

The potential deal, estimated to be around Rs 100 crore, may include franchise rights for the Kiko Milano brand within India. In response to inquiries, Reliance Retail refrained from commenting on media speculations and rumors, maintaining their stance of continually evaluating various opportunities.

Reports suggest that Reliance Retail is strategically expanding its portfolio of beauty retail brands to tap into the burgeoning beauty and personal care (BPC) market in India. The company has already made significant inroads into the beauty sector 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, as an international brand, caters to the premium end of the BPC market. With Reliance Retail’s growing presence in the beauty sector, India is emerging as an attractive destination for global brands seeking expansion opportunities.

Kiko Milano, an esteemed Italian beauty brand, is renowned for epitomising elegance and sophistication in the world of cosmetics. Known for its high-quality products and avant-garde formulations, Kiko Milano has established itself as a frontrunner in the global beauty industry. With a diverse range of makeup, skincare, and accessories, Kiko Milano caters to the discerning needs of beauty enthusiasts worldwide.

Each product is meticulously crafted to blend innovation with timeless elegance, offering customers a luxurious experience that transcends trends. Whether it’s their vibrant eyeshadow palettes, silky-smooth lipsticks, or hydrating skincare essentials, Kiko Milano consistently delivers excellence, empowering individuals to express their unique beauty with confidence and flair.

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