Comments
Competition in the $19-billion Indian beauty and personal care segment just got stiffer with Reliance Retail opening its first beauty store, Tira, in Mumbai on Wednesday. The company is planning to set up stores country-wide in at least 100 locations over the next several months, said sources.
The flagship store, located at Jio World Drive in the central business district of Bandra Kurla Complex, is spread over 4,300 square feet and will be stocked with a range of beauty and personal care products, including in-house brands. Along with the first physical store under the Tira brand, the Reliance Industries’ subsidiary also made a formal launch of the Tira online platform and the app. It is expected to service a major portion of the country shortly.
FSN E-Commerce, which operates the Nykaa brand, has a head start over RIL with 135 stores on the ground and 37 fulfilment centres. While it has a significant online presence, the company plans to expand its retail store network and have 300-350 stores across 100 major cities over the next 2-3 years.
Here’s the action
The Indian beauty and personal care segment is an underpenetrated segment with low ticket sizes and there is ample headroom for growth, analyst said. It is seen growing at 10 per cent annually over the next five years to $31 billion, according to Redseer. In this bucket, e-commerce currently has a share of around 15 per cent and this is seen rising to about a third, with a total size of $10 billion by 2027.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.