Isha Ambani, the Non-executive Director and head of Reliance Retail shared that the company plans to provide a curated design-led experience in the luxury segment
After competing in the mass market with Reliance Jewels, the company is now set to enter the luxury jewellery segment, as stated by Isha Ambani, the Non-executive Director and head of Reliance Retail, during the 47th annual general meeting (AGM) of Reliance Industries on Thursday. The company plans to provide a curated design-led experience in the segment.
“In Jewellery, there are ambitious plans to enter the luxury jewellery segment with a curated design-led experience. This will help explore the fashion jewellery and accessory segment to broaden our market reach,” Isha Ambani stated.
As the company now plans to venture out into the segment, it is set to face competition with Tata’s CaratLane and a few other brands. While this segment might be new for the company, Reliance has experience of operating in this market with Reliance Jewels which is aimed at catering for the mass market.
Highlighting Reliance’s vertically integrated operations helping it grow, Isha Ambani said, “In fashion and lifestyle, our vertically integrated operations, from designing and fabric sourcing to logistics and distribution, allow us to set trends and meet the diverse fashion needs of our customers across the country.”
The head of Reliance Retail highlighted the success of the company’s ecommerce portal, Ajio which is competing with the likes of Myntra, Flipkart Fashion and Nykaa Fashion.
“New formats like Yousta and Swadesh offer fast and accessible fashion, while Ajio continues to lead as an online fashion destination, with repeat customers contributing 85 per cent of sales. Ajio Luxe is solidifying its position as the top fashion destination for the premium and luxury customers.”
She also stated that the company’s partnership with ASOS and Shein is expected to bring trendy fashion product to the country’s market, which would help in keeping pace with the global fashion trends.
