The first of a new chain of stores called Azorte, which was opened in Bengaluru, will compete with Zara and Industria de Diseno Textil SA-owned Mango and target millenials and Generation Z.
As the Mukesh Ambani-led company run by the billionaire continues to nab a larger share of the luxury market, Reliance Industries Ltd.’s retail division on Thursday opened its first in-house premium fashion and lifestyle store.
Millennials and Generation Z shoppers will be served by the new Azorte retail chain, the first of which opened in Bengaluru. It will compete with brands like Mango and Zara, which is owned by Industria de Diseno Textil SA.
According to Akhilesh Prasad, CEO of Reliance Retail’s fashion and lifestyle division, “millennials and Gen Z are increasingly expecting the latest of international and contemporary Indian fashion, making the mid-premium fashion market one of the fastest growing customer groups.”
The launch is a part of the Mr. Ambani company’s bold moves in the retail sector, creating alliances with national and international companies.
Within the next year, the business aims to amass a portfolio of 50 to 60 grocery, home, and personal care brand names. It is also in advanced negotiations to acquire the Indian distribution rights for Sephora, a French beauty brand owned by LVMH
Isha, the daughter of Ambani, has been in charge of Reliance’s entrance into luxury and lifestyle.