Reliance Retail takes on Zara, Mango by launching in-house premium fashion store

Reliance launches first in-house premium fashion store called Azorte in Bengaluru

Livemint (with inputs from Agencies)
Updated29 Sep 2022
Azorte will contribute to 15% incremental revenue of Reliance Retail's fashion, said top executive
Azorte will contribute to 15% incremental revenue of Reliance Retail’s fashion, said top executive

Reliance Industries Ltd's retail unit launched its first in-house premium fashion and lifestyle store, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market. The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA (Inditex)-owned Zara, and cater to millenials and Gen Z. With a size of around 18,000 square feet, the first AZORTE store opened its doors at a mall here.

The new store format includes several tech-enabled interventions such as smart trial rooms, fashion discovery stations, "endless aisles" and self-checkout kiosks, the company said. "AZORTE will house the best of global trends and contemporary Indian fashion with an original take on style ranging from western and Indian wear to footwear, fashion accessories, home, beauty and more," it added.

"The mid-premium fashion segment is one of the fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion," said Akhilesh Prasad, chief executive officer of the fashion and lifestyle arm of Reliance Retail.

He said that the mid-premium fashion segment is one of fastest growing consumer segments as millennials and the Gen-Z are increasingly demanding the latest of international and contemporary Indian fashion.

Reliance's luxury and lifestyle foray has been led by Ambani's daughter Isha.

The company plans to have up to 40 stores across 12 cities over the next nine months, he added.

In three years, Azorte will contribute to 15% incremental revenue of Reliance Retail's fashion and lifestyle business, Prasad said at the store launch in Bengaluru.

The new store chain is a part of Reliance Industries' aggressive strides in the retail industry, forging partnerships with domestic and global brands.

The company plans to build a portfolio of 50 to 60 grocery, household and personal care brands within this year and is in advanced talks to get the rights for LVMH-owned French beauty brand Sephora in India.

Reliance Retail Limited is a subsidiary of Reliance Retail Ventures Ltd, the holding company of all the retail companies under the RIL (Reliance Industries Limited) group. RRVL reported a consolidated turnover of 199,704 crore ($ 26.3 billion) and net profit of 7,055 crore ($931 million) for the year ended March 31, 2022.

 

 

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