Reliance Retail Set To Enter The World Of Cosmetic

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Reliance Retail Set To Enter The World Of Cosmetic
07 Jan 2023
6 min read

News Synopsis

Latest Update- 07/01/2023

From its 700 total stock-keeping units Flormar which has its home in Turkey would import 300 to India for sale in Reliance Trends stores all over the country. Akhilesh Prasad chief executive of Reliance Trends told the Economic Times we are launching Flormar in a select 30 to 40 Reliance Trends stores to understand the client preference with regard to hues and product selections. we are undertaking this action in order to have the best product selection for the Indian market. we will later launch the brand across all of our store's prasad added details.

Even though no new dates have been given for when the brand would launch in each Reliance Trends location the rollout will start soon. Although selling Flormar cosmetics online in India is the firm's long-term goal Prasad added that the company is taking one step at a time and has yet to resolve whether online sales will be made through a major e-commerce site or through independent retailers.

Since its founding in 1970, Flormar has grown its global reach to more than 100 nations. According to the brand, the reason it waited to join India earlier it was unable to find a suitable partner. With the partnership with Reliance Retail owned by Mukesh Ambani Flormar's journey in India will now truly start.

Last Updated- 23/09/2021

An exceedingly successful organization and one of India’s it is top companies Reliance Retail is set to enter a rather new space the cosmetic and skincare and haircare market. It is no surprise that the cosmetic market is highly competitive and there are major contenders in it such as Nykaa, Myntra, and others. Reliance has decided to take up a two-way process it has decided to launch a website-based store for all high-end brands and provide in-store facilities too. Reports suggest that Reliance has been working on a selection process for skincare range, haircare range, beauty, and fragrance range also with other products. Reliance is said to be working in partnership with Armani, Burberry, Canali, Diesel, Gas, Hugo Boss among a host of other brands.

At Think with Niche we believe that this step put forward by Reliance Retail will act as a jolt to the already existing brands and e-commerce sites because Reliance is a top performer in the country and is bound to become popular among people and potential customers. Moreover, with the rise of demand for grooming products and being a potent gifting option the beauty and cosmetic industry in India is set to rise to 4.4 billion by FY 2025 with about 110 million customers. Figures have also suggested that beauty and cosmetics are one of India’s fastest-growing industries worth 850 billion retail markets.

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