Reliance To Take On Nykaa With Beauty Ecommerce Platform Tira

Reliance To Take On Nykaa With Beauty Ecommerce Platform Tira

SUMMARY

The platform is currently available to all Reliance employees; to be launched for consumers soon

Tira has dedicated makeup, skin and haircare, fragrances, bathing, men’s beauty and luxury sections

With Tira, Reliance Retail looking to fulfill its omnichannel retail ambition

Reliance Retail has forayed into the beauty ecommerce category with a dedicated platform– Tira. However, the platform is currently available to all Reliance employees; to be open for consumers soon.

Tira includes dedicated makeup, skin and haircare, fragrances, bathing, men’s beauty and luxury sections, per ET report.

“We stock products that are formulated by experts and backed by industry insiders. Tira is the destination for those looking for unheard of skincare lines or a cult-favourite makeup,” Tira said on its app, as quoted by ET.

Besides, Reliance has a vast collection of mass, premium and luxury labels and its own private labels on Tira. Further, the company is also focussing on both online and physical stores of Tira as it wants to pursue an omnichannel retail strategy with the platform.

“The platform has a dedicated luxury section which is in direct competition to Nykaa Luxe,” an executive said as quoted in the report.

The Battle Of Luxe Beauty Space

The beauty ecommerce segment in India is dominated by Falguni Nayyar’s Nykaa which debuted on stock markets last year. Besides, Tata Cliq Palette, Sephora, SS Beauty by Shopper’s Stop and Myntra are some other players in this space.

The beauty and personal care segment in general has seen strong growth across ecommerce platforms lately. While the overall ecommerce order volume saw 69.4% year-on-year growth in FY22, beauty and personal care saw 143% growth in terms of order volume, according to data from ecommerce Saas platform Unicommerce.

The report also added that India’s Tier II and III cities collectively accounted for nearly 63% of online orders across multiple categories including fashion, electronics and FMCG segments in 2022.

Meanwhile, Reliance Retail has been focussing on its new commerce business. The revenue from digital and new commerce businesses of Reliance Retail, saw a 38% year-on-year (YoY) rise in the third quarter of financial year 2022-23 (FY23) and accounted for 18% of its total revenue.

Reliance Retail’s fashion ecommerce venture AJIO, on the other hand, expanded its customer base by 33% YoY and catalogue size by 62% YoY during the quarter.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Reliance To Take On Nykaa With Beauty Ecommerce Platform Tira-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Reliance To Take On Nykaa With Beauty Ecommerce Platform Tira-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Reliance To Take On Nykaa With Beauty Ecommerce Platform Tira-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Reliance To Take On Nykaa With Beauty Ecommerce Platform Tira-Inc42 Media
Reliance To Take On Nykaa With Beauty Ecommerce Platform Tira-Inc42 Media
You’re in Good company