Reliance's Avantra to take on Tanishq and Aditya Birla Fashion Retail: Report
Alongside selling private labels in ethnic wear and sarees, Avantra will collaborate with regional weaver clusters and several third-party brands
Under the brand name Avantra, Reliance Retail will be launching a chain of stores and compete with Tata Group’s Tanishq and Aditya Birla Fashion Retail (ABFRL) in the ethnic wear and saree space, according to a report in The Times Of India. The development comes on the back of Tanishq, primarily a jewellery brand, entering the ethnic wear space. Aditya Birla’s ABFRL, by snapping up significant stakes in domestic designer wear labels like Sabyasachi and Tarun Tahiliani, has also showed a strong interest in the segment.
It also comes on the back of a brewing festive and wedding season, which would see the brick and mortar chain position economy range mid size stores, the publication reported.
Offerings to include accessories and tailoring services
Alongside selling private labels in ethnic wear and sarees, Avantra will collaborate with regional weaver clusters and several third-party brands, including Nalli Silks and Pothys. The offerings will also include jewellery, accessories and tailoring services, the publication said. The first store would be set up in Bengaluru followed by rest of Karnataka and Andhra Pradesh.
Despite global apparel brands taking centerstage, ethnic wear continues to be the dominant segment in India, which has led to many domestic and foreign brands that specialise in western outfits to launch desi clothing collections. The market for women’s ethnic wear is set to grow annually by 10%.