Mumbai: Dubai-based Apparel Group is in exploratory talks to acquire a stake in Baccarose, which distributes global premium fragrance, skincare and cosmetics brands in India and operates Parcos, one of the country's largest specialty perfume retail chains.
The discussions are at an early stage, and the potential transaction could involve either the entire company or only the retail arm Parcos, which runs more than 50 stores, three people familiar with the matter told ET. "Apparel Group could...just invest in the parent company and run the retail chain," one of them said, valuing the potential deal at ₹250 crore.
Founded in 1983, Baccarose is among the first beauty and luxury brand distribution firms in India. However, in recent years, its business has been impacted by the entry of players such as Nykaa, Shoppers Stop and Reliance-backed Tira, which have increasingly secured licensing rights for global brands entering the Indian market.
"Most of the international brands are being launched either online by partners like Nykaa or stores through Shoppers Stop, unlike a few years ago when Baccarose had a monopoly in the beauty segment," the person quoted above said.
Apparel Group is a global fashion and lifestyle conglomerate, operating over 2,500 stores across 14 countries, according to its website.
In India, it has partnered more than a dozen global fashion, footwear and lifestyle brands such as Victoria's Secret, Charles & Keith, Crocs, Aldo, Bath & Body Works, Tim Hortons and Carrefour, and operates over 250 stores. Apparel Group declined to comment on the talks. A Baccarose spokesperson denied that talks are underway.
The discussions are at an early stage, and the potential transaction could involve either the entire company or only the retail arm Parcos, which runs more than 50 stores, three people familiar with the matter told ET. "Apparel Group could...just invest in the parent company and run the retail chain," one of them said, valuing the potential deal at ₹250 crore.
Founded in 1983, Baccarose is among the first beauty and luxury brand distribution firms in India. However, in recent years, its business has been impacted by the entry of players such as Nykaa, Shoppers Stop and Reliance-backed Tira, which have increasingly secured licensing rights for global brands entering the Indian market.
"Most of the international brands are being launched either online by partners like Nykaa or stores through Shoppers Stop, unlike a few years ago when Baccarose had a monopoly in the beauty segment," the person quoted above said.
Apparel Group is a global fashion and lifestyle conglomerate, operating over 2,500 stores across 14 countries, according to its website.
In India, it has partnered more than a dozen global fashion, footwear and lifestyle brands such as Victoria's Secret, Charles & Keith, Crocs, Aldo, Bath & Body Works, Tim Hortons and Carrefour, and operates over 250 stores. Apparel Group declined to comment on the talks. A Baccarose spokesperson denied that talks are underway.
