Reliance Retail to enter ethnic wear space with Avantra; first store to come up in Bengaluru

Reliance Retail is all set to make its foray into the ethnic wear and saree space. The Reliance Industries subsidiary is now launching a chain of stores under the brand name Avantra. Tanishq also plans to enter the ethnic wear space whereas Aditya Birla Fashion Retail has raised its stakes in designer wear labels like Tarun Tahiliani and Sabyasachi.

The announcement comes ahead of the festive and wedding season. Avantra’s brick-and-mortar stores will be mid-size and in the economy range. The first Avantra store will come up in Bengaluru. Besides selling private labels, Avantra will team up with regional weaver clusters and several third-party brands like Nalli Silks and Pothys. The upcoming Reliance Retail will also offer jewellery, tailoring services and accessories apart from ethnic wear and sarees. “Jewellery, accessories and tailoring services will also be part of the offerings,” Times of India reported.

Global brands have also earned their place in the Indian market but ethnic wear continues to have a massive demand, prompting most brands to launch their own collections in the segment. Women’s ethnic wear market is expected to grow at an annual rate of 10 per cent.

Reliance Retail Ventures, subsidiary of Reliance Industries Limited and holding company of all the retail companies under the RIL Group, reported a consolidated turnover of Rs 157,629 crore and a net profit of Rs 5,481 crore in FY21.

Edited by Mehak Agarwal