Reliance Brands markets more than four dozen highend international labels in India including Armani, Burberry, Canali, Diesel, Gas and Hugo Boss.
KEY HIGHLIGHTS
- Reliance Brands has devised a two-pronged strategy of a dedicated webstore as well as a new brick-and-mortar chain of high-end cosmetics products
- Reliance will sell top international brands as well as their own private labels.
- Reliance Brands has been consistently building skincare, beauty and fragrance offerings within the portfolio of brands they sell.
New Delhi: Mukesh Ambani led Reliance Retail, reportedly looking to foray into the intensely competitive online retailing of multibrand beauty and cosmetics business, taking on Nykaa, Myntra and Tata’s proposed similar ecommerce business, the Economic Times mentioned in a report citing multiple people familiar with the development said.
According to the ET report, Reliance Brands, Reliance Retail’s unit that sells upmarket brands, has devised a two-pronged strategy of a dedicated webstore as well as a new brick-and-mortar chain of high-end cosmetics products that will be something similar to LVMH’s Sephora.
“They are building a beauty business that would be like a Nykaa for online and a Sephora for the offline side,” the publication quoted an unnamed person as saying. “They will sell top international brands as well as their own private labels.” He said the cosmetics venture could also have a webstore on Ajio, Reliance Retail’s fashion and lifestyle ecommerce platform.
A Reliance Brands spokesperson told the financial daily that the company has been consistently building skincare, beauty and fragrance offerings within the portfolio of brands they sell. Reliance Brands markets more than four dozen highend international labels in India including Armani, Burberry, Canali, Diesel, Gas and Hugo Boss.
Reliance Brands said it offers a wide range of skin and hair-care products of Japan-based Muji, while fragrances of Tiffany & Co, Armani, Zegna and Diesel are doing “exceedingly well.” Similarly, Superdry has been expanding its play into this segment with the launch of bodyspray and bodywash, the publication quoted Reliance Brands as saying in an emailed respose.
“With rise in personal grooming and multiple gifting occasions — this space is certainly one to watch out for,” the spokesperson said without giving answers to the specific questions on the company’s online and offline plans for beauty business.
Two top executives of two prominent malls said Reliance Brands has indicated to them about the space requirement for the proposed beauty business. ET had reported last week that Tata’s unit, Tata Digital, is also finalising plans to launch a new ecommerce platform exclusively to sell beauty and cosmetics products.
Beauty and cosmetics is one of the fastest growing segments of India’s $850 billion retail market.
