Arvind Fashions Limited informed the exchange that it had signed definitive agreements with Reliance Beauty & Personal Care Limited (RBPCL) to sell its wholly owned subsidiary Arvind Beauty Brand Retail Limited (ABBRL) which runs its Sephora India business, in an all cash transaction.
RBPCL is a wholly owned subsidiary of Reliance Retail Ventures Limited. AFL intends to utilise the proceeds to invest in growth of its brands portfolio and repayment of debt.
Sephora operates 26 stores across the country offering products across categories such as makeup, skincare, fragrance, haircare.
With this sale, AFL will emerge as a pure-play branded fashion company and will further sharpen its focus on profitably growing its 5 marquee industry leading brands which include U.S. Polo Assn., Tommy Hilfiger, Arrow, Flying Machine and Calvin Klein.