Reliance Retail to set up new store chain in 'Ethnic wear & Saree space'
6th September 2021, Mumbai:
Reliance Retail plans to a new chain of stores under the brand name of Avantra to take on Tata Group’s Tanishq and Aditya Birla Fashion Retail (ABFRL) in the ethnic wear and saree space.
The company will set up brick-and-mortar chain position mid-size stores in the economy range. 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 first store is set to come up in Bengaluru, followed by others in Karnataka and Andhra Pradesh.
The company’s move comes against the backdrop of Tanishq which is foraying into the ethnic wear space. Aditya Birla’s ABFRL, too, has snapped up significant stakes in domestic designer wear labels such as Sabyasachi and Tarun Tahiliani.
Ethnic wear continues to be the dominant segment in India despite a proliferation of global apparel brands. This is leading to several domestic and foreign brands specializing in western wear to launch desi clothing collections.
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