THE WHAT? Sephora has reportedly called off a retail partnership with Reliance Retail instead continuing its allegiance with Arvind Fashions, according to a report by Mint.
THE DETAILS The Sephora-Reliance tie-in was first reported in September last year, with Reliance said to be in advanced talks to acquire the master franchise rights for LVMH-owned brand.
Had the deal gone through, it would give Reliance a bigger foothold in the Indian domestic premium beauty market.
THE WHY? The Indian domestic market is growing apace, with brands vying to take a slice of the pie. While the partnership with Sephora has allegedly fallen through, Reliance is proceeding with its own multi-brand format under the Tira brand.