Reliance to take on Zara, Mango under Mukesh Ambani’s daughter’s leadership

The first of a new chain of stores called Azorte, which was opened in Bengaluru, will compete with Zara and Industria de Diseno Textil SA-owned Mango and target millenials and Generation Z.

On Thursday, the retail division of Mukesh Ambani’s Reliance Industries Ltd. opened its first in-house premium fashion and lifestyle store as it works to increase its share of the luxury market.

The first of a new chain of stores called Azorte, which was opened in Bengaluru, will compete with Zara and Industria de Diseno Textil SA-owned Mango and target millenials and Generation Z.

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“The mid-premium fashion segment is one of fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion,” Akhilesh Prasad, chief executive of the fashion and lifestyle arm of Reliance Retail, said.

The launch is a part of the Mr. Ambani company’s bold moves in the retail sector, creating alliances with national and international companies.

Within a year, the business aims to amass a portfolio of 50 to 60 grocery, home, and personal care brand names. It is also in advanced negotiations to acquire the Indian distribution rights for Sephora, a French beauty brand owned by LVMH.

Isha Ambani, the Ambani family’s daughter, is in charge of Reliance’s luxury and lifestyle venture.