Reliance Retail eyes value fashion market
Reliance Retail is planning on launching a new fashion brand in the value segment of the market. The retail giant aims to tap into the rising popularity of branded clothing across all Indian geographies.
The business is currently in talks to lease spaces in numerous Indian malls and on high streets for its upcoming brand, the Economic Times reported. The brand’s name, however, has not yet been announced.
“While Tata has Westside and Zudio in the mass and low-priced segment, Reliance has Trends and recently launched premium fashion and lifestyle store Azorte, to compete directly with fast fashion brands Zara and H&M in India,” said anonymous sources close to the matter, ET Bureau reported. “It had nothing to offer which can compete with Zudio and Max and the new brand, which will sell clothing within [the] Rs 1,000 range, will help it expand its offering.”
India’s fashion market is becoming increasingly organised and value conscious shoppers are also on the rise. As the Indian economy broadens and its middle class grows, the value fashion segment is only predicted to continue to rise in popularity, in both metro and Tier 2 locations.
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