With Isha Ambani at helm, Reliance Retail to take on Mango, Zara with new premium fashion store

Reliance Retail launched the first Azorte store in Bengaluru. The company will compete with global behemoths such as Mango and Zara in India's mid-premium fashion retail segment.

ET Now Digital

Updated Sep 29, 2022, 13:41 IST

Isha Ambani

Photo : PTI

Reliance Industries Ltd’s (RIL's) retail arm Reliance Retail launched its first in-house fashion and lifestyle store 'Azorte' on Thursday. The store aims to take on global behemoths such as Mango and Zara in the country’s burgeoning mid-premium fashion market.

The Isha Ambani-headed RIL unit is among Asia’s top 10 retailers with an achieved turnover of Rs 2 lakh crore, as per RIL chairman & managing director Mukesh Ambani.

Reliance Retail launched the first Azorte store in Bengaluru, reported Reuters.

The company plans to build a portfolio of 50 plus grocery, household and personal care brands within the year and is in advanced discussions to get the rights for LMVH-owned French beauty brand Sephora in India.

Reliance Retail on Wednesday converted Future Retail’s departmental store format Central into Centro in locations where lease was taken over by the Ambani-led company after the Future Group defaulted on rentals and surrendered the property.

Reliance Retail, a subsidiary of Reliance Retail Ventures Ltd, the holding company of all retail companies in the group, reported a turnover of Rs 199,704 crore and a net profit of Rs 7,055 crore for the year ended March 2022. The firm has opened over 2,500 stores this year alone to take its count to over 15,000, spanning an operational area of 42 million square feet.

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