Mukesh Ambani's daughter, Isha Ambani Piramal is the director of Reliance Retail, and she has cracked a deal with an Italian brand worth Rs. 100 crore. Here's everything you need to know about it.
Indian billionaire, Mukesh Ambani leads headlines every now and then for his business pursuits. However, following in her father's footsteps, Mukesh Ambani's daughter, Isha Ambani Piramal, dominates the headlines time and again for her personal and professional endeavours. For the uninitiated, Isha Ambani is the Director of Reliance Retail, which is among the biggest contributors to the success and profit of Reliance Industries Private Limited. Reliance Retail is India's largest consumer electronics retail chain, with a portfolio of more than 50 marquee international brands.
According to the official website of Reliance Retail, it generated a turnover of Rs. 3,06,786 crore in the financial year 2023-24. It's fair to say that under the strong leadership of Isha Ambani Piramal, Reliance Retail has been quite profitable and even won a series of awards and titles. For the uninitiated, Reliance Retail won Apparel Brand of the Year award (2023-24) at the ET Awards, Value eRetailer of the Year award at the IRec Awards 2023, and Brand of the Decade award at the BARC Asia Awards 2023.
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Reliance Retail's director, Isha Ambani Piramal is showing no signs of slowing down as she continues to crack new deals and takes risky decisions in order to grow her company. According to a report in DNA, Isha Ambani cracked a major deal with one of the biggest Italian luxury cosmetic brand, Kiko Milano. After months of negotiations, Isha Ambani finally managed to pull off the deal, which could take Reliance Retail to another level. For the uninitiated, the luxury cosmetic sector is one of the booming and most profitable sectors in India, which is why this partnership between Reliance Retail and Kiko Milano is going to challenge the dominance of Tata's Lakme, Nykaa, LVMH, and Sephora.
As soon as the reports of Isha Ambani Piramal cracking a deal with Italian luxury brand, Kiko Milano made its place in the news headlines, people started wondering why she splashed a sum as large as Rs. 100 crore on this deal. Is it really worth it? Well, it's totally worth it, and the reason behind it is the fact that Kiko Milano is one of Italy's leading luxury cosmetic brands, which was founded back in 1997. From innovation solutions to high-pigment products, many cosmetic critics in the cosmetic industry consider Kiko Milano as Italy's 'number 1' luxury cosmetic brand.
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Talking about Isha Ambani Piramal's deal with Kiko Milano, the Italian brand is planning to open its physical stores in six major cities in India, including Delhi, Mumbai, Pune, and Lucknow. The deal is going to make Reliance Retail a major player in India's cosmetic sector, which is dominated by Tata's Lakme and Nykaa. Before Kiko Milano, Isha Ambani's previous acquisitions include the likes of Boss, Balenciaga, Armani, and Versace. It will be interesting to see how things are going to unfold in the cosmetic sector for these three big players, Reliance Retail, Tata, and Nykaa. As per a report in DNA, Reliance Retail plans to launch 20 brand-new beauty stores across India in different cities.
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For the uninitiated, earlier this year in March, Isha Ambani Piramal finalised a deal with luxury cosmetic brand, Allies of Skin. According to a report in The Times Of India, Isha Ambani introduced Allies of Skin in its already-stellar lineup of cosmetic brands. The report further stated that Reliance Retail is planning to set its footprint beyond the tier 1 and tier 2 cities, which they've already dominated. Kiko Milano is the second deal Isha Ambani Piramal has finalised in a single year for Reliance Retail, signalling its unprecedented success.
What are your thoughts on Isha Ambani Piramal's acquisition of Kiko Milano? Can this collaboration compete with Tata's Lakme and Nykaa in India's cosmetic sector? Let us know.
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