Reliance Retail plans offline presence of online beauty platform Tira – ET Retail

Spread the love

Reliance Retail plans to open offline stores of its soon-to-be-launched e-commerce beauty platform Tira also, a top company official said on Monday. The company would open its first offline Tira store in Mumbai and plans to expand its presence in the country, both in a ‘shop-in-shop’ format and standalone stores.

Currently, Tira’s e-commerce platform, on which Reliance Retail is offering makeup, skincare, hair care, fragrances, bathing, men’s beauty and luxury sections, is open to Reliance employees only.

This portal will open for customers soon, said Reliance Retail Director Subramaniam V on the sidelines of an event organised by industry chamber FICCI.

When asked about the offline expansion of Tira, Subramaniam said: “It will come up in the month of April in Mumbai.”

Though he did not share the number of stores Reliance Retail plans to open initially said: “We would have a sufficient number of stores to take it pan-India.”

He said, “Tira would be the premium and for non-premium (brand), we still have to decide.”

According to sources, there could be several tech interventions at the proposed Tira stores, including customised recommendations and virtual try-ons.

Tira could be retailing luxury products under a specialised category called Tira Red, he added.

Last year, Reliance Retail Ventures Ltd (RRVL) bought a controlling stake in makeup and personal care brand Insight Cosmetics, which has the largest opening price points at leading e-commerce platforms such as Amazon, Flipkart and Nyka.

Subramaniam said Reliance Retail is one of the largest players in the beauty segment.

“We were there in personal care, hair care and the largest customer for Lakme. But now, we are bringing a kind of special channel for beauty,” he said.

In a 2021 report, global market research platform Statista said that India ranked fourth in revenue generation from the beauty and personal care market, just behind the US, China, and Japan, projecting that online sales would grow 18.2 per cent in the next few years.

Source link