Reliance Retail Ventures Ltd (RRVL) has bought a controlling stake in makeup and personal care brand Insight Cosmetics. It is reported that the deal was valued at $10-15 million.
The deal is in line with the strategy of RRVL to expand its beauty and personal care business, mostly through acquisitions. RRVL has primarily focused on brands in the apparel, footwear, beauty and personal care categories in the fashion and lifestyle segment. RRVL is also planning to open 400-450 large format stores for retailing the acquired brands.
Insight Cosmetics claims to have a distribution presence in 20 states and its products are sold at over 12,000 retail and novelty stores nationwide. The company retails its products through more than 10 e-commerce portals.
The company has over 350 stock keeping units and mainly sells nail paints, lip shades, mascara, eyeliner, eyeshadow, foundation, concealer, lip gloss and makeup brushes among the products. It also retails its products through more than 10 e-commerce portals.
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