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Reliance launches first in-house premium fashion store


BENGALURU: Reliance Industries’ retail unit launched its first in-house premium fashion and life-style store on Thursday, because the billionaire Mukesh Ambani-led firm continues to seize an even bigger slice of India’s luxurious market.
The new store chain known as Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA-owned Zara, and cater to millenials and Gen Z.
“The mid-premium fashion segment is one of the fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion,” mentioned Akhilesh Prasad, chief government officer of the fashion and life-style arm of Reliance Retail.
The firm plans to have as much as 40 shops throughout 12 cities over the following 9 months, he added.
In three years, Azorte will contribute to fifteen% incremental income of Reliance Retail’s fashion and life-style enterprise, Prasad mentioned on the store launch in Bengaluru.
The new store chain is part of Reliance Industries’ aggressive strides within the retail trade, forging partnerships with home and world manufacturers. learn extra
The firm plans to construct a portfolio of fifty to 60 grocery, family and private care manufacturers inside this yr and is in superior talks to get the rights for LVMH-owned French magnificence model Sephora in India.
Reliance’s luxurious and life-style foray has been led by Ambani’s daughter Isha.

Source: timesofindia.indiatimes.com


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