Mukesh Ambani and Isha Ambani’s Reliance Retail has entered the beauty business head-on with Tira Beauty, a comprehensive omnichannel brand. This company has quickly expanded beyond the digital sphere, opening its first physical location in Mumbai's popular BKC neighborhood's Jio World Drive mall.
In comparison to Nykaa or any other beauty story, the Tira store provides a customised experience through the use of tech consoles that have been put up to improve the shopping experience. The store is about 4,300 square feet in size and offers a variety of items.
Not the online retail, but the effort to revive the offline shopping experience with exotic elements in its beauty and cosmetics shop—things never before seen in rivals Nykaa or NewU—is what sets Isha Ambani's Tira apart.
Girls leaving for work can stop by a Dyson-powered hairstyle station for a fast blow dry. In addition, there is an engraving station where any glass bottle of a product can be personalized, adding a special touch to gifts.
Since Tira is a new business, it is now offering a 15-20% discount on items, compared to Nykaa's typical 10% discount. Additionally, Tira offers products from companies including Lakme, L'Oreal, Plum, Maybelline, and Tresemme.
Nykaa has over 150 outlets since it first opened its doors online. The business has made a name for itself as an industry pioneer. Tira, however, has been introduced in both channels. Tira may end up stealing some of Nykaa's market share thanks to its greater pockets.
The country is seeing an increase in the beauty sector. The market for cosmetics and personal care was valued at $26.3 billion in 2022, and, according to IMARC Group, it will rise by 6.45% annually between 2023 and 2028 to reach $38 billion.
