Reliance Retail-Owned Tira Forays Into Skincare Space With Akind

SUMMARY

The move is a part of Reliance Retail’s strategy to expand its portfolio of proprietary brands. In the last two months, Tira has unveiled two private-label brands, Nails Our Way and Tira Tools

Under Akind, cofounded by angel investor Mira Rajput Kapoor, the company has rolled out nine products to begin with

In April last year, Reliance launched Tira to take on major players in the segment like Nykaa, Tata Cliq Palette and Sephora.

Reliance Retail-owned omnichannel beauty retail platform Tira has rolled out new private label brand Akind, marking its foray into the skincare space.

The move is a part of Reliance Retail’s strategy to expand its portfolio of proprietary brands. In the last two months, Tira has unveiled two private-label brands, Nails Our Way and Tira Tools.

Under Akind, cofounded by angel investor Mira Rajput Kapoor, the company has rolled out nine products to begin with. The price of these products range between INR 500-900. The brand will be sold across Tira stores and also on the official Tira website.

“The Akind range was meticulously formulated with care, trial and error, and extensive research into high efficacy ingredients that act as targeted solutions for specific problems, and what better way to bring this vision to life than powered by Tira, the ultimate destination for curated beauty brands,” said Kapoor.

“This launch represents a significant milestone in Tira’s journey. As we continue to expand and evolve, we remain committed to innovation and excellence, ensuring that every offering enhances our customer’s beauty experience,” said Reliance Retail Ventures’s executive director Isha Ambani.

In April last year, Reliance launched Tira to take on major players in the segment like Nykaa, Tata Cliq Palette and Sephora. The beauty retail platform’s product offerings across verticals include makeup, haircare, fragrance, men’s beauty products and baby care among others.

Erlier, Reliance also launched ‘Tira Tools’ to make its entry into the beauty accessories space.

This development comes at the backdrop of growing investor interest in the beauty and personal care segment.

Few weeks ago, Skincare solution startup CHOSEN by Dermatology has secured a seed funding of $1.2 Mn from friends and family.

Last year, Gurugram-based D2C beauty and personal care startup Clensta bagged INR 75 Cr in a funding round led by TradeCred.

Not to mention, the beauty and personal care segment presents a huge business opportunity with market is expected to grow from $5 Bn in 2023 to $28 Bn in 2030, at a CAGR of 28%.