Reliance Retail Ltd. has entered the competitive $27 billion beauty and personal care market in India with the launch of Tira, its omnichannel beauty platform, intensifying the competition in this rapidly expanding sector.
The Tira app and website, offering specialized categories such as makeup, skincare, haircare, fragrance, bathing, wellness, and men’s beauty products, are now accessible to customers, as announced in the company’s statement on Wednesday. In addition to this, India’s leading retailer has inaugurated Tira’s flagship store in Mumbai.
“With Tira, we aim to break down barriers in the beauty space and democratise beauty for consumers across segments,” said Isha Ambani, executive director of Reliance Retail Ventures Ltd., the holding company of Reliance Retail. “Our vision is to be the leading beauty destination for accessible yet aspirational beauty, one that is inclusive, and one that harbours the mission of becoming the most loved beauty retailer in India.”
According to sources requesting anonymity, Reliance Retail intends to expand Tira stores nationwide, aiming for at least 100 locations in the coming months.
This move places Reliance Industries Ltd., with its diverse portfolio spanning grocery, fashion, electronics, footwear, medicines, and home goods, in direct competition with Sephora by LVMH, as well as local competitors like Nykaa (FSN E-Commerce Ventures Ltd.), Myntra Designs Pvt., Shoppers Stop Ltd., and even the Tata Group.
Reliance Retail presently offers beauty and personal care items through its extensive network of department store chains and the JioMart platform. With the specialized platform, the company aims to cater to consumers across various price ranges, offering both affordable lipsticks and premium skincare products.
Tira’s online platform displays interactive videos that allow for shopping, blogs, tutorials, trendsetting tips, personalized recommendations, and a virtual try-on feature.
According to the company, the platform will offer consumers the broadest selection of color cosmetics for virtual try-ons in the convenience of their homes.
“An omnichannel retail concept powered by technology and customised experiences, Tira offers a curated assortment of the best global and homegrown brands, making it the go-to destination for all things beauty,” the company said.
Covering an area of 4,300 square feet, the Tira store located at Jio World Drive in Bandra Kurla Complex has been meticulously crafted by Dalziel and Pow, an innovation studio headquartered in London. This renowned studio has previously crafted design concepts for diverse industries, including well-known names like Marks and Spencer, Etude House, Toyota, and Volkswagen.
As per the company’s statement, Tira is set to become the inaugural specialty beauty retailer in India to introduce the “fragrance finder,” a distinctive feature designed to assist consumers in discovering fragrances that align closely with their preferences.
Companies like Nykaa, Shoppers Stop, and Tata Cliq Palette are also gearing up to extend their physical store presence in order to promote their beauty brands, as offline demand gradually returns to pre-Covid levels.
During the post-earnings call following the December quarter results, Nykaa’s Founder and Chief Executive Officer, Falguni Nayar, announced the company’s intention to expand its store count from the existing 141 to an additional 50 in 2023.
“Even though physical retail accounts for less than 10% of our revenue, there’s opportunity for growth in general trade and modern trade. The demand for beauty is very strong. It is one of the top three categories—along with footwear and sports goods—in malls all over India,” she had said.
According to a report by Avendus Capital, the online personal care and beauty market in the country is expected to reach $4.4 billion by 2025. The report also predicts a significant surge in the number of online beauty and personal care shoppers, with an estimated increase of more than fourfold, from 25 million in FY20 to 110 million in FY25.