The retail venture of Reliance Industries plans to open two formats of beauty and cosmetics outlets to tap the market: a multi-brand store that is modelled on LVMH’s Sephora and a chain of value products targeting the mass market, they said.
Reliance Retail did not respond to an email seeking comment till press time Monday.
The value format, where most of the expansion will happen, will have outlets of 1,000-2,000 sq ft. The company is also readying to open its high-end beauty and cosmetics format, currently code-named Tiara, in the coming months in Reliance Industries-owned mixed development Jio World Centre in Mumbai, one of the people said. This will be followed by the opening of more such stores, spread around 5,000 sq ft, in other cities.
Reliance Brands will also run a dedicated ecommerce business selling multi-brand beauty and cosmetics products, ET had reported.
A 2021 report by financial services firm Avendus has predicted the online personal care and beauty market in India to touch $4.4 billion by 2025. Online beauty and personal care shoppers are likely to increase in numbers by over four times – from 25 million in FY20 to 110 million in FY25, it has said. So, companies from Reliance to Tata are entering the space to tap the growing demand.
Several malls in Delhi and Mumbai said Reliance had been scouting for 4,000-5,000 sq ft of retail space for its upmarket beauty and cosmetics business.