THE WHAT? Reliance Retail Ventures has acquired a majority stake in Perception Cosmetics in a deal stated to be valued at US$10 million to US$15 million, based on a report printed by Mint quoting sources ‘acquainted with the matter’.
THE DETAILS The Mumbai-based model is distributed all through India by way of each bricks and mortar and e-commerce and its vary spans some 350 SKUs.
THE WHY? Reliance was rumored to be bidding for Boots earlier this yr and the expertise has clearly left the Indian retail behemoth hungry for a slice of the cosmetics trade. It’s stated to be eager to construct a magnificence and private care enterprise to rival the likes of Nykaa and Purplle.