The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The investment firm has agreed to acquire a controlling stake in Indian personal care and beauty retailer Vini Cosmetics for 46 billion rupees ($625 million).
Founded in 2010, and still led by the company’s founders, Darshan and Dipam Patel, Vini produces branded deodorants, cosmetics and toiletries under its flagship brand, Fogg, as well as several others.
The company’s distribution network includes 700,000 points of sale, 3,000 dealers and 1,200 sales personnel in India. It also has a significant presence in South Asia and the Middle East.
Following the transaction, the company’s co-founders will continue to hold stakes in Vini and collaborate with KKR to focus on growth.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.
Luxury fashion retailers in the oil-rich African nation keep a low profile to provide a discreet shopping environment for consumers and avoid flaunting the elite nature of their own business.