Reliance Retail announces entry into luxury jewelry segment

Reliance Retail will enter the luxury jewelry segment with a curated design-led experience, Isha Ambani, Non-Executive Director and head of Reliance Retail said during Reliance Industries’ 47th annual general meeting (AGM) on August 29.

With the move, Reliance Retail will compete with new-age companies like Tata’s CaratLane and other legacy brands. To be sure, the company already operates Reliance Jewels but that is targeted at the mass market.

The company’s e-commerce portal, Ajio, is making progress and growing at a rapid pace. Ajio competes with Walmart’s Myntra, Flipkart Fashion, Amazon Fashion, Nykaa Fashion among others.

While units like Flipkart Fashion target the mass market, Nykaa Fashion goes after the premium base, which Reliance will continue to concentrate on.