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Reliance Retail to enter beauty sector with 400 stores: Report

Reliance Retail, a subsidiary of Mukesh Ambani’s Reliance Industries Limited, is planning to join the cosmetics market and might establish roughly 400 outlets in the coming years. The stores, which might compete with Nykaa and Myntra, will only sell beauty and cosmetics items.

To break into the industry, Reliance Retail plans to build two types of beauty and cosmetics stores. According to sources familiar with the proposal, one might be a multi-brand store modelled after LVMH’s Sephora, and the other a chain of value items aimed at the mass market. Reliance Brands will also run an online site that sells multi-brand beauty and cosmetics items.

Meanwhile, Reliance Retail’s value format will see the highest growth, with locations ranging from 1,000 to 2,000 square feet. In addition, the company plans to debut its high-end beauty and cosmetics format (code-named Tiara) in the Jio World Centre in Mumbai in the coming months. Following that, additional such businesses will open in other cities.

According to a 2021 analysis by financial services firm Avendus, India’s personal care and beauty industry might reach $4.4 billion in the following three years, or by 2025. Furthermore, the number of such shoppers is expected to more than quadruple, from 25 million in FY20 to 110 million in FY25.

In the meantime, Reliance Industries has become the top-ranked Indian firm on Forbes’ Global 2000 list. RIL was also the first Indian company to surpass $100 billion in yearly revenue.


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