Reliance Retail's Beauty App Tira Goes Live; Flagship Store Unveiled In Mumbai
The move pits Reliance against LVMH's Sephora and domestic rivals Nykaa, Myntra, Shoppers Stop and even the Tata Group.
Reliance Retail Ltd. has launched its omnichannel beauty platform, Tira, heating up competition in the fast expanding $27 billion beauty and personal care market in India.
The Tira app and website—with dedicated makeup, skincare, haircare, fragrance, bathing, wellness, and men's beauty products—are live for customers, the company said in a statement on Wednesday. Besides this, the country's largest retailer has unveiled 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."
Reliance Retail plans to roll out Tira stores countrywide in at least 100 locations over the next several months, according to people aware of the matter, who spoke on condition of anonymity.
The move pits Reliance Industries Ltd.—whose interests span grocery, fashion, electronics, footwear, medicines, and home goods—against LVMH's Sephora and domestic rivals Nykaa (FSN E-Commerce Ventures Ltd.), Myntra Designs Pvt., Shoppers Stop Ltd., and even the Tata Group.
Reliance Retail already sells beauty and personal care products via its large network of department store chains and on its JioMart platform. Through the dedicated platform, the company is looking to tap consumers across price points, selling low-priced lipsticks as well as pricier skincare products.
Tira’s online platform showcases shoppable videos, blogs, tutorials, trend-setting tips, personal recommendations, and a virtual try-on feature.
The platform will have the widest range of colour cosmetics for consumers to try on from the comfort of their homes, the company said.
"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.
Spread across 4,300 sq. ft., the Tira store at Jio World Drive in Bandra Kurla Complex has been designed by London-headquartered innovation studio, Dalziel and Pow. The studio has designed concepts for a range of industries, from apparel to car giants like Marks and Spencer, Etude House, Toyota, and Volkswagen.
According to the company, Tira will also be the first specialty beauty retailer in India to launch the 'fragrance finder"—a signature experience that helps consumers match fragrances closest to their preferences.
Peers such as Nykaa, Shoppers Stop, and Tata Cliq Palette also have plans to expand their physical stores to sell their beauty brands, with offline demand coming back to pre-Covid levels.
Nykaa has 141 stores and plans to add another 50 in 2023, the company's founder and Chief Executive Officer Falguni Nayar said in the company's post-earnings call after the December quarter results.
"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.
A report by Avendus Capital forecasts the country's online personal care and beauty market to reach $4.4 billion by 2025. It also projected the number of online beauty and personal care shoppers to increase by over four times, from 25 million in FY20 to 110 million in FY25.
