Reliance Retail, the subsidiary of Reliance Retail Ventures Limited (RRVL) which is the holding company of all the retail companies under the RIL (Reliance Industries Limited), on Wednesday announced the launch of Tira, an omni-channel beauty retail platform. Along with the launch of Tira app and website, Reliance Retail also announced the opening of its flagship store at Jio World Drive in Bandra Kurla Complex in Mumbai.
Tira offers an assortment of global and home-grown brands, similar to Nykaa, making it a go-to destination for all beauty products. The launch is in line with Reliance Retail’s overall vision of offering consumer goods across categories through multiple retail formats.
“With Tira, we aim to break down barriers in the beauty space and democratize beauty for consumers across segments. Our vision for Tira is to be the leading beauty destination for accessible yet aspirational beauty, one that is inclusive and one that harbours the mission of becoming the most loved beauty retailer in India,” said Isha Ambani, Executive Director, Reliance Retail Ventures Limited. Reliance’s foray into the segment is timely with the beauty and personal care segment slated to increase to Rs 2 trillion in 2025 from Rs 1 trillion in 2020, according to Statista.
Tira’s online platform showcases shoppable videos, blogs, tutorials, trend-setting tips, personal recommendations and a virtual try-on feature, the company said in a statement. The newly launched brand’s store at Jio World Drive is spread across 4,300 square feet and has been designed by London-headquartered innovation studio, Dalziel & Pow. The stores will also have dedicated gifting stations to personalize purchases and Fragrance Finder, which will help consumers match fragrances closest to their preferences, the company said.
Reliance Retail has been focusing on expanding its presence across the Indian consumer retail market by launching a range of products in FMCG, home and personal care spaces. Through its subsidiaries and affiliates, Reliance Retail operates an integrated omni-channel network of 17,225 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle and pharma consumption baskets. RRVL reported a consolidated turnover of Rs 199,704 crore and net profit of Rs 7,055 crore for the year ended March 31, 2022.