Reliance Retail is ready to form its raid the ethnic wear and saree space. The Reliance Industries subsidiary is now launching a sequence of stores under the name Avantra. Tanishq also plans to enter the ethnic wear space whereas Aditya Birla Fashion Retail has raised its stakes in designer wear labels like Tarun Tahiliani and Sabyasachi.
The announcement comes before the festive and wedding season. Avantra’s brick-and-mortar stores are going to be mid-size and within the economy range. the primary Avantra store will come up in Bengaluru. Besides selling private labels, Avantra will team with regional weaver clusters and a number of other third-party brands like Nalli Silks and Pothys. The upcoming Reliance Retail also will offer jewellery, tailoring services, and accessories aside from ethnic wear and sarees. “Jewellery, accessories, and tailoring services also will be a part of the offerings,” Times of India reported.
Global brands have also earned their place within the Indian market but ethnic wear continues to possess a huge demand, prompting most brands to launch their own collections within the segment. The women’s ethnic wear market is predicted to grow at an annual rate of 10 percent.
Reliance Retail Ventures, a subsidiary of Reliance Industries Limited and company of all the retail companies under the RIL Group, reported a consolidated turnover of Rs 157,629 crore and a net income of Rs 5,481 crore in FY21.