Reliance Retail introduces Tira cosmetic store and online platform
Reliance Retail Limited revealed the launch of Tira, an omni-channel cosmetic retail platform fueling further competition in India’s personal care and beauty market. The retailer has a presence across apparel, grocery, luxury, footwear, electronics and jewellery retail also announces the launch of the flagship Tira store at Jio World Drive in Mumbai’s Bandra Kurla Complex.
The company could potentially scale up the Tire store format across 100 cities in India, and the formats could change according to locations, said people familiar with the retailer’s plan. A quick look at the Tira app shows brands available across price points and other websites selling beauty products. For instance, on sale are Lakme lip colors, Mac lipsticks, Colourbar cheek blusher and Maybelline lip colors. Several brands were available to order at discounts ranging from 5-20%. The Tira Red section of the app is where shoppers can find more up-market luxury brands such as Estee Lauder, L’Occitane, Bobbi Brown, and Clinique among others.
Reliance’s entry is set to shake up the country’s beauty and personal care market which is estimated to reach Rs 2.2 trillion by 2025. Incumbents such as Nykaa, Sephora and Shoppers Stop have for long built a wide assortment of products, a key ingredient to woo young shoppers, as well as driven engagement with beauty influencers to drive sales. “Tira’s launch is in line with Reliance Retail’s overall vision of bringing high-quality products to Indian consumers through multiple retail formats," the company said in a statement announcing the launch.
The move marks the growing clout of the company that has more recently made aggressive bets on India’s retail and packaged goods market. While the company has for years had a deep presence in India’s retail market, its recent efforts to acquire homegrown brands, as well as expand its footprint in the fast-moving consumer goods market are being viewed as a potential threat to several large established businesses. Reliance Retail Limited is a subsidiary of Reliance Retail Ventures Limited. 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 pharma consumption baskets.
“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 democratize 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 harbors the mission of becoming the most loved beauty retailer in India," said Isha Ambani, executive director, of Reliance Retail Ventures Limited (holding company of Reliance Retail Limited).
Tira’s online platform also showcases shoppable videos, blogs, tutorials, personal recommendations and virtual try-on features. The Tira store at Jio World Drive is spread across 4,300 square feet and has been designed by London-headquartered innovation studio, Dalziel & Pow. Tira stores will be a “beauty destination" with a focus on curated services. The stores will feature the latest beauty tech tools such as virtual try-on to create customized looks, and a skin analyzer, the company said.
