THE WHAT? India’s Reliance is said to be considering a buy-out of the much-beleaguered Revlon, according to a report published by Reuters quoting ET Now’s Twitter feed as its source.
THE DETAILS Days after the US beauty giant filed for bankruptcy, rumors emerged that the Indian behemoth was keen to beef up its beauty and personal care portfolio and the 90-year-old brand would prove a perfect fit.
THE WHY? Reliance is known to be on the acquisition trail, and has been linked to several high-profile deals this year, including WBA’s Boots, as it seeks to build the next FMCG Multinational.