Reliance Retail plans to launch a budget-friendly clothing format to compete with Tata's Zudio, Landmark Group's Max, and Shoppers Stop's new budget brand InTune. The company is in talks to lease 6,000-9,000 square feet of space across malls and high streets for the new brand, the name of which has yet to be revealed.
Tata, with its Westside and Zudio offerings in the populist and economical spheres, finds itself rivaled by Reliance, who have established Trends and, most recently, the high-end AZORTE fashion and lifestyle emporium, poised to compete with the swift fashion conglomerates Zara and H&M in Indian Markets.
It had nothing to compete with Zudio and Max, and the new brand, which will sell clothing in the Rs1,000 range, will assist it in expanding its offering,' stated the sources.
According to experts, India's consumption structure has historically been skewed toward a small group of wealthy consumers who account for a sizable portion of the overall market.
In Q3FY23, Reliance Retail opened 789 new stores totaling 6 million square feet.
For feedback and suggestions, write to us at editorial@iifl.com
