Reliance Retail to enter luxury jewelry market, reveals Isha Ambani
What's the story
Reliance Retail, a subsidiary of Reliance Industries Limited (RIL), has announced its foray into the luxury jewelry sector.
The announcement was made by Isha Ambani, Non-Executive Director and head of Reliance Retail, during RIL's 47th annual general meeting (AGM).
This strategic move is aimed at expanding the company's market reach and positioning it as a competitor against Tata's CaratLane and other legacy brands.
Business approach
Ambani outlines ambitious plans for luxury jewelry sector
Ambani outlined the company's ambitious strategy for the luxury jewelry sector stating, "In jewelry, (there are) ambitious plans to enter the luxury jewelry segment with a curated design-led experience."
"(It will help in) exploring the fashion jewelry and accessory segment to broaden our market reach," she added.
This move signifies a shift from Reliance Retail's current focus on mass-market offerings through its existing brand, Reliance Jewels.
Operational strategy
Reliance Retail's integrated operations in fashion and lifestyle
Ambani also highlighted the company's integrated approach in the fashion and lifestyle sector.
She explained, "In Fashion and Lifestyle, our vertically integrated operations — from designing and fabric sourcing to logistics and distribution — allow us to set trends."
This strategy enables the company to meet diverse fashion needs across India, further strengthening their market presence.