06 September 2021, Mumbai:
Reliance Retail readies to launch a retail chain of stores under the brand name 'Avantra'. This comes on the back of the fact that festivity and wedding season is already upon us, contemplating this brick-and-mortar chain positioning more on the lines of mid-size stores & priced in the economy range for the mass outreach the signature of this retail behemoth.
Doesn't come as a surprise as this burgeoning segment has already seen big ticket foray of Tanishq, predominately a jewellery brand, entering into the ethnic wear space. Aditya Birla’s (ABFRL), too, has started to take this sector more seriously by buying up serious stakes in famed designer wear labels likes of 'Sabyasachi' and 'Tarun Tahiliani' to drive point home.
Avantra true to 'Reliance Retail' DNA will go all guns blazing such as selling private labels in sarees and ethnic wear, partner with regional weaver clusters to push the existing boundaries.
Women’s ethnic wear market is set to grow in pre-teens % (percentage) annually.