Reliance Retail launches Tira to take on Nykaa, Tata Cliq
Reliance Retail on Wednesday entered the beauty space with the launch of Tira, an omnichannel beauty retail platform that will offer a curated assortment of the best global and home-grown brands.
The country’s leading retailer will now compete with Nykaa, Tata, and LVMH’s Sephora in India’s growing beauty and personal care marketplace.
Along with the Tira application (app) and website launched in 100 cities, it also opened its flagship Tira store at Jio World Drive in Bandra Kurla Complex in Mumbai, spread across 4,300 square feet.
Inspired by Goddess Rati, who symbolises love, passion, and beauty, Tira’s launch is in line with Reliance Retail’s overall vision of bringing high-quality products to Indian consumers through multiple retail formats.
Isha Ambani, executive director, Reliance Retail Ventures (RRVL) — the holding company of Reliance Retail — was quoted saying, “We are excited to bring the Tira experience to our Indian customers. With Tira, we aim to break down barriers in the beauty space and democratise 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.”
The beauty and personal care market in India, according to IMARC Group, was at $26.3 billion in 2022. The market research firm expects the market to reach $38 billion by 2028 — a compound annual growth rate of 6.45 per cent between 2023 and 2028.
Tata Group also recently entered the beauty space and launched its app and website — Tata Cliq Palette.
Devangshu Dutta, chief executive officer, Third Eyesight, a retail consultancy firm, says that one needs to look at it in the context of long-term growth of the beauty and personal care market.
“Women are stepping out to work. There is a natural outcome of lifestyle change.” He says competition will intensify in the short term, causing discounting and promotions to increase in the category.
“As long as you have enough capital on your balance sheet, you will be able to play the long-term game,” he adds.
He went on to explain that in the category, the same customer is reached both online and offline and a brand has to look at which channel is appropriate for it. Over time, it will have to be a blend of channels. Currently, most of the retail is still offline, he says.
Prashant Agarwal, co-founder and joint managing director, Wazir Advisors, says the beauty and personal care market worldwide has a lot of players and no one player monopolises the market.
“Reliance will create its own space in the category. But there will be space for others to succeed as well,” he adds.
RRVL, through its subsidiaries and affiliates, operates an integrated omnichannel network of 17,225 stores and digital commerce platforms across grocery, consumer electronics, fashion and lifestyle, and pharmaceutical consumption baskets and has tied up with over 2 million merchants through its New Commerce initiative.