Reliance is the largest conglomerate in India as they post the largest revenue of any company or group based in India at the end of every financial year. Recently, Reliance Industries announced that they will be entering the consumer products and FMCG category as they invested $6.5 billion USD. But now, one of their subsidiaries, Reliance Retail came out to announce that the company will be diving in to the world of beauty and cosmetic products very soon. The spokespeople of the company said that they plan to set up about 400 retail stores spanning over the next couple of years.
They will be competing directly against e-commerce firms like Nykaa and Myntra and even real-life tangible stores like Maybelline and Lakme. The company plans to set up two versions of stores. The first one being stores with multiple brands, such as Louis Vuitton’s Sephora and Tata Industries’ Westside. The second will be a chain of retail stores which sells affordable cosmetic products for people on a budget. With this, they can tap Indian consumers from all walks of life.
They also said that the company will also be starting their own e-commerce direct 2 consumer websites where they sell and ship their products to the door step of their buyers. So, consumers can even purchase the new products from the comfort of their own home.
With the new announcement, Reliance Retail will now be going through massive changes as they expand and enter a brand-new industry. Their luxury line of cosmetics will have a stand-alone store in the Jio World Centre in Mumbai which opened up just over a month ago.
They plan to expand their luxury stores to other major cities in India as well like New Delhi and Chennai as well.
According to official sources, the market for beauty and cosmetic products is set to be close to $4.5 billion USD in three years. The number of the players in the market are also set to go up over the next few years consequently because of this. Currently there are around 25 million players in the beauty and cosmetics line in India, and it is projected to be around 110 million players in the market midway through the decade. Reliance Industries saw this potential and are moving in to the industry quickly and are setting their roots and strengthening themselves before other newer players can. Everything Reliance does seems to go this way and we’ll have to wait and see how their beauty line works.) Find out more if they will offer mesotherapy in the next coming days as this will surely make a promising start.
