Reliance Retail, the retail unit of Reliance Industries Ltd, launched its first in-house premium fashion and lifestyle store on Thursday in Bangalore. This new store chain—named Azorte—is likely to compete with Mango and Industria de Diseno Textil SA-owned Zara.
Akhilesh Prasad, CEO of the fashion and lifestyle arm of Reliance Retail, said, “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.”
At the store launch event, Prasad mentioned that “Within the next three years, Azorte is expected to contribute to approximately 15% incremental revenue of Reliance Retail’s fashion and lifestyle business.”
Azorte is a part of Reliance Industries’ aggressive expansion efforts in the retail industry, strengthening partnerships with domestic and global brands—led by Mukesh’s daughter, Isha Ambani.
In 2022, the company has a plan to establish a strong portfolio of around 50 household, grocery, and personal care brands, while already in discussion with French beauty brand Sephora for collaborating in the Indian market.
