Reliance Retail on Tuesday unveiled Tira, an online beauty platform, igniting rivalry in the quickly expanding beauty e-commerce market, which is currently dominated by Nykaa, Tata CLiQ Palette, a recent entrant, as well as retailers like Sephora, SS Beauty by Shopper’s Stop, and Myntra.
The website is the first access to all Reliance employees and will soon be made available to customers. It has sections specifically dedicated to makeup, skin and haircare, fragrances, bathing, men’s beauty, and luxury goods. On Tuesday, Valentine’s section was also included.
“The platform has a dedicated luxury section which is in direct competition to Nykaa Luxe,” said an executive with direct knowledge of the details. “We stock products that are formulated by experts and backed by industry insiders. Tira is the destination for those looking for unheard-of skincare lines or a cult-favourite makeup,” the platform has announced on its app, according to another executive.
Reliance Retail said that its digital and new commerce businesses gained 38% year over year in the quarter ending in December 2022 in a post-earnings management statement.
On its JioMart platform, Reliance Retail has also been running a beauty e-commerce store that sells cosmetics, skincare, and perfumes. Reliance is also pursuing an omnichannel retail strategy with Tira, which it aims to grow out with a large selection of mass, premium, and luxury labels as well as its own private labels, according to officials knowledgeable of the plans. This strategy will focus on both online and physical shops.
According to one of the executives previously mentioned, it is finalising plans to launch its offline outlets under the Tira brand as well.
With demand shifting back to offline purchasing, Nykaa and Tata CLiQ also have plans to open new physical stores or expand existing ones to offer their cosmetics. In the company’s earnings call following the December quarter, Falguni Nayak’s Nykaa stated that it currently had 141 physical stores and intended to establish 50 more in 2023. “Even though physical retail accounts for less than 10% of our revenue, there’s opportunity for growth in general trade and modern trade,” Nayak said.
