Reliance to launch omni-channel beauty platform
Mukesh Ambani’s retail giant Reliance Industries is gearing up to launch an omni-channel beauty platform which is plans to run by synergising its two recent acquisitions, retail tech startup Fynd and e-pharmacy marketplace Netmeds.
Reliance Industries is looking to enter the fast growing omni-channel beauty market in India by launching its own multi-brand platform, the Economic Times reported. The platform will rival India’s beauty giants Nykaa and Walmart-owned Myntra, among others.
The upcoming beauty platform is being jointly developed by both Fynd and Netmeds, Mansworld India reported. Netmeds will be responsible for the backend of the platform and Fynd is in the process of building the frontend of the platform and designing its customer interface.
Reliance has not announced an official name for the platform yet but it is expected to be called ‘Tiara’, according to the Economic Times. Reliance chairman Mukesh Ambani’s daughter Isha Ambani, who is director of Reliance Retail, is working on the project.
The online platform is expected to be integrated with Reliance’s multi-brand fashion and lifestyle website Ajio, which Isha Ambani oversees operations for. The project is part of Reliance’s wider initiative to bring the business well and truly into the Indian e-commerce space and capitalise on the growing market.
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