M&A

M&A

RIL unit acquires controlling stake in Insight Cosmetics

Mint  

Publicly-listed Reliance Industries Ltd (RIL), via Reliance Retail Ventures Ltd (RRVL), has bought a controlling stake in Mumbai-based makeup and personal care brand Insight Cosmetics for USD 10-15 million. Insight Cosmetics was launched by Dinesh Jain in 2001. The brand claims to have a distribution presence across 20 states. Its products are sold at more than 12,000 retail and novelty stores. The company primarily sells nail polish, lipstick, mascara, eyeliners, eyeshadows, foundations, concealers, lip gloss and makeup brushes. It also retails its products through over 10 e-commerce portals.