Mukesh Ambani’s Reliance Retail is looking to enter the premium department store segment by early next year, taking on incumbents in the space, such as Shoppers Stop and Lifestyle International, India’s Economic Times reports.
Citing mall executives, the newspaper reported that Reliance Retail is in search of space in the range of 25,000 to 35,000-square-feet for the proposed chain. The new department store chain is expected to house Reliance Brands- and Reliance Retail-affiliated brands, as well as the company’s private label brands and foreign and Indian and brands outside of the Reliance stable.
Reliance Brands, another subsidiary of Reliance Industries, has a portfolio of luxury and high-end brands that includes Armani, Burberry, Salvatore Ferragamo, Jimmy Choo and Diesel. It also already has a multibrand store chain, The White Crow, via which it deals with a number of other high-end international brands. Since its launch in 2019, Reliance Brands has opened four White Crow stores in Ahmedabad, Chandigarh, Hyderabad and Surat.
Reliance’s new department store format will reportedly be positioned between its Reliance Trends mass market department store chain and The White Crow.
The news is the latest in the battle over Indian supermarket chain Future Retail Ltd., as both Ambani-owned Reliance Industries and Amazon are vying for control over the country’s $1 trillion retail market.