Reliance Retail eyes Kiko Milano's beauty business in India | Maqvi News

Retail giant Reliance Retail is holding talks with Italian cosmetics brand Kiko Milano. This could see Reliance Retail acquire Kiko Milano’s India business to strengthen its offering in the country’s fast growing beauty market. 

Reliance Retail’s talks with Kiko Milano are at advanced stages, sources told India Retailing. If a deal comes to fruition, Reliance Retail would take over around 12 Kiko Milano beauty stores in India. Kiko Milano currently operates in India through a joint partnership between Italy-based Percassi Group and New Delhi-based DLF Brands Limited. 
 
“As a policy, we do not comment on media speculation and rumours,” said Reliance Retail in a statement to India Retailing. “Our company evaluates various opportunities on an ongoing basis. We have made and will continue to make necessary disclosures in compliance with our obligations under the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 and our agreements with the stock exchanges.”

Reliance Retail acquired Sephora’s India business in November 2023 from Arvind Fashions, Beauty Matter reported. Sephora is owned by luxury and retail business LVMH and retails a multi-brand selection of makeup, perfume, and skincare goods. Acquiring Kiko Milano would further bolster the business’ standing in India’s beauty market.