LVMH’s Sephora enters India directly
Sephora, the selective beauty retailing unit of luxury giant LVMH, with over 1.600 stores around the world, inaugurated early this week its first store in India, the company opting for direct operations, taking advantage of the lax in FDI (Foreign Direct Investment) legislation signed in by India’s Government earlier this year.
The first Sephora in India opened in the capital of New Delhi a 3,200-square foot store at Select Citywalk. The retail offering goes into the big leagues right away, with 14 new brands being launched for the first time in India, as well as its own shop-in-shop, with Indian based Forest Essentials, a prestige ayurveda-based brand. Estée Lauder bought a minority stake in the company in 2008, bringing new recognition for the brand.
“The stage for high growth in beauty in India is coming up now. We’re going to be a big player in the beauty industry,” declared Ravi Thakran, Group President for LVMH, South Asia, South East Asia & Middle East, who is also president for Sephora for the region.
The arrival of Sephora comes as a boost for the local Indian beauty market, especially the upmarket which has been sluggish in development due to lack of infrastructure and appropriate real estate, some brands as Chanel, L’Oreal and Estee Lauder opting to open mono-brand boutiques within malls.