Home NEWSINDUSTRY NEWS Reliance Retail Ventures Obtains Control Over Insight Cosmetics

Reliance Retail Ventures Obtains Control Over Insight Cosmetics

by Professional Beauty India

Reliance Retail Ventures Ltd (RRVL) has bought a controlling stake in makeup and personal care brand, Insight Cosmetics.

The entry of the billionaire Mukesh Ambani’s company into the cosmetic business was marked by the Reliance Retail Ventures Ltd (RRVL) that bought a controlling stake in makeup and personal care brand Insight Cosmetics. Making the deal to be valued at USD 10-15 million.

Insight Cosmetics launched by Dinesh Jain, Mumbai bases entrepreneur in 2001, has a distribution presence across 20 states and its products are sold at more than 12,000 retail and novelty stores across the country. The company has more than 350 stock keeping units and primarily sells nail polish, lipstick, mascara, eyeliners, eyeshadows, foundations, concealers, lip gloss and makeup brushes, among products.

The strategy of retail venture Reliance Industries Ltd, is to expand its beauty and personal care business, mostly through acquisitions and take on incumbents like Nykaa, Myntra and Purplle in the fast-growing Indian omnichannel market for beauty products.

RRVL is currently focused on brands across beauty and personal care, footwear and apparel categories in the fashion and lifestyle segment. A part of Reliance’s strategy was to get a stronger foothold in the organized fashion market which is why in March, RRVL bought 89 per cent stake in Purple Panda Fashions Pvt. Ltd, which owns and operates women-focused innerwear and loungewear brand Clovia.

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