September 12, 2015 NEW DELHI: Arvind Lifestyle today said it is targeting Rs 500 crore turnover in 4-5 years from cosmetics brand Sephora owned by LVMH Moet Hennessy Louis Vitton.
Arvind Lifestyle, known for retailing textile brands, today announced entry into the cosmetics space with franchise agreement with Sephora to manage its operations in India.
"We plan to open 40-45 Sephora stores across up to 15 cities in 4-5 years. We expect at Rs 500 crore turnover from Sephora. It is a much bigger opportunity," Arvind Lifestyle Brands Managing Director J Suresh told PTI.
Arvind will take over 4 existing Sephora stores, managed by DLF, and also open new stores beginning next year.
Sephora Global COO Olivier Schaeffer said: "At present India contributes very small percentage in our global sales but we expect it to become an important market with this partnership with Arvind."
Sephora, whose product portfolio includes cosmetics, fragrances and haircare, first opened its stores in India in 2012 in association with realty major DLF.
Sephora has stores in over 30 countries across the world.