New Delhi: Mukesh Ambani, led Reliance Retail is set to launch a chain of stores under the brand name of Avantra that will sell ethnic wear and saree to take on Tata Group’s Tanishq, which recently forayed into the ethnic wear space, and Aditya Birla Fashion Retail (ABFRL).
As the festive and wedding season sets in, the Mukesh Ambani-controlled brick-and-mortar chain will open mid-size stores in the economy range to sell ethnic wear and saree, the Times of India reported citing three unnamed people familiar with the development. A Reliance Retail spokesperson did not respond to a questionnaire emailed by the publication
The company’s move comes against the backdrop of Tanishq, which is primarily a jewellery brand, foraying into the ethnic wear space. Aditya Birla’s ABFRL, too, has shown a strong interest in the segment by snapping up significant stakes in domestic designer wear labels such as Sabyasachi and Tarun Tahiliani.
It may be noted that ethnic wear continues to be the dominant segment in India despite a proliferation of global apparel brands. Several leading domestic and foreign brands specialising in western wear are now launching ethnic wear collections looking at the huge demand in this segment.
Apart from selling private labels in sarees and ethnic wear, Avantra will partner with regional weaver clusters and several third-party brands, including Nalli Silks and Pothys, the publication mentioned. “Jewellery, accessories and tailoring services will also be part of the offerings,” the ToI report quoted the source as saying. “The first store is set to come up in Bengaluru, followed by others in Karnataka and Andhra Pradesh.”
Women’s ethnic wear market is expected to grow at an annual rate if 10%.