20 April 2022, Mumbai:
Reliance Retail Focussing on Innerwear.
Reliance Retail has bought lingerie brands Clovia, Zivame & Amante as innerwear is set to drive growth within apparel.
New Buys Tailor-made to Help Rel Retail Rule Innerwear Biz.
Reliance Retail looks to fix the price point puzzle to capture a big chunk of the huge market opportunity.
Indian consumer spending on apparel especially innerwear is much lower compared to Asian peers, signalling a significant opportunity for growth.
HOW RELIANCE CORNERED THE LINGERIE MARKET
Source: ET Research
What Reliance has acquired are not just brands but online portals.
Ramesh Agarwala, chief financial officer and executive director of innerwear company Rupa & Co, said many offline-only brands have struggled to increase revenue beyond a point.
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CREDITS: ET Dt 20-04-2022 (The news article has not been edited by DFU Publications staff)