Reliance Retail to launch online beauty platform: Report
Tira is dedicated to luxury beauty and has been positioned as a direct competitor to Nykaa Luxe in the segment.
Reliance Retail on Tuesday launched an online beauty platform Tira in a bid to compete in the beauty ecommerce space currently dominated by players like , Palette, Sephora, SS Beauty by Shoppers' Stop, and , among others.
The news was first reported by The Economic Times.
Tira is dedicated to luxury beauty and is positioned as a direct competitor to Nykaa Luxe in the segment, as per the report. At first, it will be available to all Reliance employees and will soon be enabled for consumers. Reliance Retail has also been operating a beauty ecommerce platform on its JioMart platform.
Reliance plans to scale Tira with a vast collection of mass, premium, and luxury labels and its own private labels. The company is also pursuing an omnichannel retail strategy, with a focus on both online and physical stores, executives aware of the plans told The Economic Times.
For the quarter ending December 2022, Reliance Retail's gross revenue grew 17.2% YoY to Rs 67,623 crore, while net profit was Rs 2,400 crore, at a gain of 6.2%.
ET also reported that JioMart has halted the operations of JioMart Express, its quick commerce grocery delivery service.
YourStory has reached out to the company for a response and will update the story when it is received.
Edited by Akanksha Sarma