Reliance preps beauty app Tira; Store 1 will open in April
NEW DELHI : Reliance Retail’s beauty app Tira will roll out to customers in the coming weeks after the retailer opened the app to employees last month. Branded stores selling Tira skincare and cosmetics are also set to open, with the first store expected to open in Mumbai in April.
NEW DELHI : Reliance Retail’s beauty app Tira will roll out to customers in the coming weeks after the retailer opened the app to employees last month. Branded stores selling Tira skincare and cosmetics are also set to open, with the first store expected to open in Mumbai in April.
Reliance’s entry heats up competition in the beauty retail market — which has long lacked organized retail chains, allowing consumers to buy such products at mom-and-pop stores. However, things are changing now – the surge in demand for beauty and personal care products and the explosive growth of online and offline retailing have fueled the market.
Reliance’s entry heats up competition in the beauty retail market — which has long lacked organized retail chains, allowing consumers to buy such products at mom-and-pop stores. However, things are changing now – the surge in demand for beauty and personal care products and the explosive growth of online and offline retailing have fueled the market.
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The country’s beauty and personal care market is estimated to have been affected ₹2.2 trillion by 2025.
“We bring the concept of beauty under the official umbrella of beauty. We have launched Tira for employees, a site called tirabeauty.com,” Subramaniam V, managing director of Reliance Retail Ltd., said on the sidelines of an event organized by industry body FICCI in the capital on Monday. The site will open for consumers. “very soon”. The first store will come up in Mumbai in late March or early April, Subramaniam said.
Tira is home to several premium brands; while another concept may be prepared to serve mass beauty products. “Tira will be the premium piece, the non-premium piece, which we have yet to decide,” he said. To be sure, Reliance Retail already distributes beauty and personal care products through its own large chain of stores.
But a dedicated beauty store concept is looking to fill a void in the company’s retail portfolio — with interests in grocery, fashion and lifestyle, footwear, electronics, pharmaceuticals and homewares.
The company wants to tap into more consumer segments through price points, selling cheaper lipsticks to more expensive skin care products. “We will have enough business to take the beauty retail concept across India,” added Subramaniam.
The launch of Tira follows the retailer’s attempts to acquire rights for global beauty retailer Sephora in India. However, as reported by Mint, Reliance Retail’s advanced talks with Sephora did not materialize. The retailer is now close to opening its own stores.
Recently, companies like Myntra, Nykaa and even the Tata Group have become increasingly active in the beauty market. This is because the penetration of such products in India is still low. Companies are hoping that young, savvy consumers will spend more on lipsticks and eyeshadows and look for better products as they earn more.
Reliance Retail is a subsidiary of Reliance Retail Ventures Ltd, the holding company for all retail businesses under Reliance Industries Ltd. RRVL, through its subsidiaries and affiliates, operates an integrated multi-channel network of 17,225 stores and digital commerce platforms across grocery, consumer electronics, fashion and lifestyle and pharmaceutical baskets. RRVL reported consolidated sales ₹199,704 crore and its net profit ₹7,055 crore for the year ended March 31, 2022.
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