The country s leading retailer Reliance will acquire the beauty retail business of the Lalbhai family-promoted Arvind Fashion, expanding its play in the fast-growing Beauty and Personal Care (BPC) market.
Arvind Fashion on Friday said it has "entered into a Share Purchase Agreement (SPA) with
The country's leading retailer competes with brands like HUL's Lakme, Nykaa, Tata and LVMH's Sephora in India's growing beauty and personal care marketplace.
As part of the partnership with Sephora, Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora's 26 stores across 13 cities from Arvind Fashions Limited.
Over consideration of sales, the company said: "transaction has been done at an enterprise value of Rs 216 crore towards the sale of the entire equity stake and repayment of loans. The Purchase consideration towards the sale of the entire equity stake is Rs 99.02 crore."
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