Reliance Retail negotiates with Italian brand Kiko Milano for foray into beauty segment
India's largest organised retailer, Reliance Retail is eyeing a strategic move into the beauty market by engaging in discussions to acquire Kiko Milano's India operations, a renowned Italian beauty brand.
Reliance Retail is in talks to acquire the 51:49 India joint venture between Italy's Percassi Group and New Delhi-based DLF Brands, which currently operates 8-10 Kiko Milano stores across key cities such as Mumbai, Delhi, Pune, Bengaluru, and Noida. The deal, estimated at around Rs 100 crore, may also encompass the franchise rights for the Kiko Milano brand in India.
Reliance Retail's existing ventures in the beauty sector reflect a diversified approach. Tira, an upscale offline-and-online beauty destination launched in April the previous year, caters to the premium segment, while Blushlace, introduced recently in Tier II and III cities, targets the value segment, offering beauty and innerwear products. With Sephora occupying the mid-to-premium segment, the potential addition of Kiko Milano, an international brand positioned in the premium BPC market, would further bolster Reliance Retail's presence across diverse consumer segments.
