Beauty aficionados will know about Kiko Milano, the Italian beauty brand renowned for its elegance and sophistication in the cosmetics realm. It has gained global acclaim for its high-quality products, positioning itself as a winner in the worldwide beauty industry, and if reports are to be believed, they might be the latest brand to join Reliance’s kitty.
Reliance Retail, led by Mukesh and Isha Ambani,, is reportedly in discussions with the Italian beauty brand for potential acquisitions of its operations in India. This strategic operation aims to secure Reliance’s presence in the beauty market and intensify competition with key rivals such as Nykaa and Shoppers Stop.
Recent reports indicate that Reliance Retail is strategically broadening its array of beauty retail brands to tap into the thriving beauty and personal care (BPC) market in India. The company has already made strides in the beauty sector with the introduction of Tira, a premium beauty destination both online and offline, and Blush lace, focusing on value-centric beauty and innerwear products in tier 2 and 3 cities.
In contrast to Sephora, which targets the mid-to-premium market, Kiko Milano, as an international brand, caters to the premium end of the BPC market. With Reliance Retail’s expanding footprint in the beauty sector, India is emerging as an enticing hub for global brands eyeing expansion opportunities.
The estimated deal, valued at around Rs 100 crore, may involve securing franchise rights for the Kiko Milano brand within India.
It could significantly enhance Reliance’s standing in the beauty market, intensifying its rivalry with prominent competitors. This strategic initiative underscores Reliance’s commitment to dynamic growth within the Indian retail landscape.
