InvestorQ : Why is Reliance Retail launching its own luxury retail brand?
manisha Kolvenkar made post

Why is Reliance Retail launching its own luxury retail brand?

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Crowny Pinto answered.
2 months ago
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Reliance Retail has just launched, Azorte, its first in-house premium fashion and lifestyle store. This will cater to the upper middle luxury segment and directly compete with the likes of Mango and Zara. RRVL is looking at the brand choices of the Gen-Z population. Reliance Retail plans to open up to 40 stores across 12 cities in the next 9 months and began by inaugurating its store in Bengaluru. Azorte is expected to contribute around 15% of incremental revenue of their fashion and lifestyle business. The retail business of the Reliance group is being steered by Mukesh Ambani’s daughter, Isha Ambani.

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