Source: Times of India , 22nd June
Reliance Brands, a privately held firm of Reliance Industries chairman Mukesh Ambani, has been in talks to launch Louis Vuitton Moet Hennessy (LVMH) owned beauty retailer Sephora, and a high-end women’s clothing brand BCBG, as the company looks to add more international brands to the country’s evolving fashion and personal grooming business.
This subsidiary of Reliance Retail has existing joint ventures and long-term distribution pacts with global brands like Diesel, Zegna, Paul & Shark, Timberland and Steve Madden. Industry sources briefed on the developments said Reliance Brands, spearheaded by fashion industry veteran Darshan Mehta, has been scouting for high-street locations for launching Sephora and BCBG (abbreviated for Bon Chic Bon Genre in
French). The two brands fit into Reliance Brands strategy of bringing in international brands catering exclusively to women’s wear, personal grooming and accessories business.
Reliance Brands CEO Darshan Mehta declined to comment on market speculation . LVMH could not be reached for immediate comments . The nature of the proposed alliance with Sephora and BCBG, whether it is JV or long-term licensing of the brand, could not be ascertained . The deal with Sephora was still in discussions and not sealed, sources added.
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