In the coming few weeks, Reliance Retail 's beauty app Tira is going to be live for all the customers around the world. Tira brand stores selling skin care and cosmetic products are also set to open, with the first store expected to open in Mumbai in April. Let us tell you that Reliance Retail had earlier made the Tira app live for its employees only, so that it could be tested properly.
Reliance is now ready to leave big companies by entering the beauty retail market. There was a lack of organized retail chain in this sector for a long time, on the other hand, consumers were also leaving the temptation of shops selling such products. However, things are changing now, the rise in demand for beauty and personal care products and the explosion in both online and offline retail have revived the market. According to estimates, the country's beauty and personal care market could touch Rs 2.2 trillion by 2025.
First app then store
Reliance Retail Ltd MD Subramaniam V. said on the sidelines of an event organized by industry body FICCI in the capital on Monday, we have launched Tira for employees, which is a site called tirabeauty.com. The site will be open to consumers "very soon". Subramaniam said that the first store will open in Mumbai in late March or early April.
Tira will have premium products
Teera will have more and more premium brands, while another concept can also be worked on to cater to beauty products on a large scale. Subramaniam V said Teera will be its premium piece, non-premium piece, we are yet to decide. Let us tell you that Reliance Retail already retails beauty and personal care products through departmental store chains. However, a dedicated beauty store concept will fill the gap in the company's retail portfolio with grocery, fashion and lifestyle, shoes, electronics, medicine and domestic goods.
All companies are getting active
The company is looking to tap multiple consumer segments at all price points to sell low-end lipsticks to high-end skincare products. He said that we will have enough stores to take the beauty retail concept across India. Recently companies like Myntra, Nykaa and even Tata Group are becoming more active in the beauty market. This is because the reach of such products in India is still less.
17,225 stores in the country
Reliance Retail is a subsidiary of Reliance Retail Ventures Limited, the holding company for all retail businesses under Reliance Industries Limited. RRVL, through its subsidiaries and associates, operates an integrated omni-channel network of 17,225 stores and digital commerce platforms across grocery, consumer electronics, fashion and lifestyle and pharma. RRVL had registered a consolidated turnover of Rs 199,704 crore and a net profit of Rs 7,055 crore for the year ending 31 March 2022.
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