Arvind Retail is set to open six more Sephora stores across India as it eyes further growth in the market following better-than-expected sales growth over the last two years.
The company added Sephora, along with three other fashion brands such as GAP, to its portfolio last year, with the four brands outperforming expectations.
J. Suresh, Chief Executive Officer of Arvind’s retail and brands business, told LiveMint, “Earlier we had said that these four brands would have revenues of Rs.2,000 crore in the next five years but now given the good response we have stepped up on our expansion plans and will achieve this (Rs.2,000 crore revenues) in four years.”
Sephora has been in the Indian market for three years, operating with three different partners. With sales doubling in the existing Sephora stores, Suresh plans to open six more stores.