Reliance Industries to focus more on consumer brands
By Shubhangi Bidwe
25 Sep 2019
Reliance Industries is pivoting from an oil-led conglomerate into a more consumer-facing company. With this in view Reliance is looking to buy fashion and child-focused retailers abroad and partner global sports and beauty brands as a part of its expansion into consumer markets. The company is also seeking to partner brands in two segments where it so far does not have a presence: beauty and athletic lifestyle wear. Multi-brand sports, wellness and fitness are the categories of interest for the company. Women's and men’s beauty products are also the target areas. The company is also seeking to partner with brands in two segments where it so far does not have a presence: beauty and athletic lifestyle wear.
Reliance Brands already runs high-end stores in India with some 40 foreign partners, including British label Burberry, shoemaker Steve Madden and New York-based Iconix Brand Group, through joint ventures and franchises. It also has brought Hamleys to India, the world's oldest toy retailer.
Reliance is already India’s biggest brick-and-mortar retailer in terms of revenue and number of stores and is also scaling up its grocery and wholesale businesses. Reliance Brands’ products are available at 788 locations spread across exclusive brand outlets, shopping malls and airports. The company is planning to open around 120 stores in India in the fiscal year to March 2020.