Isha Ambani Announces Reliance Retail’s Luxurious Jewels Venture

Nitin Konde, Apoorva Bajj

Aug 30, 2024 — 2 min read

Isha Ambani Announces Reliance Retail’s Luxurious Jewels Venture

Isha Ambani, the Director of Reliance Retail Ventures Limited (RRVL), has disclosed that the organization intends to enter the luxury jewelry sector.

Isha announced that the company is looking at expanding into the fashion jewelry and accessories segment as well as the luxury jewelry segment with a curated, design-led experience.

Avaasa, Netplay, and DNMX—all of which are homegrown brands of Reliance Retail—reached a sales milestone of over INR 2,000 crore last year, while Teamspirit and John Players both surpassed INR 1,000 crore.

According to her, to stay up with this expansion, the company has set up 18 design centers within the country and 3 abroad, making sure that their designs are appropriate for each region.

With 85% of sales coming from repeat clients, Ajio maintains its position as the go-to online fashion destination. She went on to say that the Indian market would soon be able to shop for fashionable items that are in line with international trends thanks to their collaborations with ASOS and Shein.

Growth of Reliance’s Grocery Sector

While discussing the grocery segment, she mentioned that Reliance Retail is leading the pack of rapidly expanding retailers, with a growth rate that is 2.5 times faster than the rest of modern trade.

The majority of their new store openings (11 in total) are in smaller cities, which is driving the company's growth. "The first modern merchant to set up shop in many of these markets is us" she declared.

On top of that, Reliance Retail is actively growing its Fresh Signature and Freshpik premium formats in major urban centers. Additionally, she mentioned that the company's vast network of Smart Points in more than 1,300 cities provides it with a notable edge in the eCommerce sector.

She mentioned that by utilizing its current supply network, the company is bringing Milkbasket to new regions.

It also reintroduced numerous well-known brands, such as Campa, Lotus Chocolates, and Sosyo, in the previous fiscal year. She said that the business partnership is confident in their direction because of the early success of all these businesses.

When asked about the Kirana segment, she stated, "We are delighted to have over 4 million registered Krana partners in our new commerce business, supported by a footprint of over 220 Metro stores across 200 cities."

Fundamental to this endeavor is the company's cutting-edge research and development facility in Bengaluru, which allows the business to rapidly create and distribute first-rate food items. According to her, this has resulted in significant expansion through both its channels and general commerce.