The app is reportedly set to go live for customers in the coming weeks
Reliance Retail is also going to open its first offline Tira store in Mumbai soon and plans to expand its presence in the country going forward
Tira stores would offer several tech interventions including virtual try-ons and customised suggestions
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Reliance Retail’s earlier reported beauty app Tira will go live for all customers in the coming weeks. Besides, the conglomerate will also unveil its first Tira store in Mumbai soon, with plans of expanding it further in the country going forward.
It must be noted that Tira was launched last month, with access allowed only to Reliance employees.
Responding to a question about Tira’s offline plans on the sidelines of an event organised by industry chamber FICCI, Reliance Retail Director Subramaniam V said that the first Tira store “will come up in the month of April in Mumbai”.
Further, Tira could also retail luxury products under a specialised category called ‘Tira Red’.
While Tira would offer premium products, the strategy to cater to non-premium products is not yet decided, news agency PTI reported.
“Tira would be the premium and for non-premium (brand), we still have to decide,” Subramaniam said as quoted in the reports.
It is to be noted that Reliance Retail has already been retailing beauty and personal care products. “We were there in personal care, hair care and the largest customer for Lakme. But now, we are bringing a kind of special channel for beauty,” Subramaniam added.
As it was reported earlier, Tira platform includes dedicated makeup, skin and haircare, fragrances, bathing, men’s beauty and luxury sections.
Currently, the beauty ecommerce segment in India is largely dominated by Falguni Nayyar’s Nykaa which debuted on stock markets last year. Tata Cliq Palette, Sephora, SS Beauty by Shoppers Stop and Myntra are some of the other players in this segment.
In a research note about Nykaa, brokerage Macquarie on Monday said that the entry of Tata Cliq and Reliance Retail in the beauty vertical can create problems for the beauty ecommerce startup.
Over the past few years, the beauty and personal care segment in general has seen strong growth across ecommerce platforms. While the overall ecommerce order volume saw 69.4% year-on-year growth in FY22, beauty and personal care saw 143% growth in order volume, according to data from ecommerce Saas platform Unicommerce.
For some time now, Reliance Retail has sharpened its focus 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.
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