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Mukesh Ambani makes another move as Isha Ambani-led Reliance Retail acquires this popular beauty brand from...
Reliance Retail has already ventured into the beauty market with Tira, a premium offline and online beauty destination launched last year, and Blushlace, catering to tier 2 and 3 cities with value-focused beauty and innerwear products.
Updated : Aug 14, 2024, 06:54 AM IST
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Mukesh Ambani is the richest man in India and Asia with a massive net worth of Rs 949087 crore. His daughter Isha Ambani is leading Reliance Retail, one of the best-performing subsidiaries of Reliance Industries. For those who are unaware, Reliance Industries is the most valuable company in India with a market cap of Rs 1980000 crore. Valued at over Rs 820000 crore, Isha Ambani’s Reliance Retail has grown significantly in the past year. Mukesh Ambani and Isha Ambani-led Reliance Retail, one of the most profitable companies of the Reliance conglomerate, has now signed a deal with Italian beauty brand Kiko Milano.
“As part of Reliance Retail’s strategic expansion in the beauty sector, the acquisition of Kiko Milano earlier this year has brought Italy’s most beloved cosmetics brands to Indian shores,” the company said in the press release.
The brand, which had previously been operated in India through a joint venture between Italy's Percassi Group and New Delhi-based DLF Brands Ltd., was successfully acquired by Reliance Retail earlier this year.
In addition to the Tira platform, Kiko cosmetics will be offered at its exclusive brand stores in six cities, including Delhi, Mumbai, Pune, and Lucknow.
Reliance Retail has already ventured into the beauty market with Tira, a premium offline and online beauty destination launched last year, and Blushlace, catering to tier 2 and 3 cities with value-focused beauty and innerwear products.
While Sephora targets the mid-to-premium segment, Kiko Milano, an international brand, caters to the premium end of the BPC market.
With Reliance Retail's expanding presence in the beauty sector, global brands are eyeing India for expansion opportunities.
