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
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
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.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.