Reliance Retail to Disrupt the Beauty Space with its New Brand Tira
After dominating the apparel retail segment in the country, Reliance Retail is planning to disrupt the beauty space, dominated by Nykaa, Sephora, and Myntra, by introducing its new beauty brand Tira in January at Jio World Drive Mall, Mumbai.
“The store spanning across 4,500 sq. ft – 5,000 sq. ft will be offering multi-brands under the same roof,” as per the sources aware of the development.
The omnichannel brand is evaluating the technologies to provide the same experience to both offline and online consumers.
“Reliance plans to democratize beauty for India. The online channel will be catering to classes as well as the masses whereas offline will be more focussed on premium and luxury. Tira will be offering international brands along with Reliance’s own private label brands under the same roof. The brand plans to be the biggest player in the beauty space,” as per the sources.
Tira will compete with brands like Nykaa and Myntra, to take the biggest share of the burgeoning cosmetics and fashion market, which is estimated to be worth Rs 14.1 trillion by 2025.
The brand is planning to open its second store in Mumbai’s Jio World Plaza – a global destination for the luxury needs of Mumbai peeps. And in the next financial year, it will be opening a store in Delhi.