Reliance Retail’s omnichannel beauty retail platform, Tira, has taken a significant step into the skincare market with the launch of its new private label brand, Akind. This move reflects Reliance Retail’s strategy to diversify its portfolio of proprietary brands and strengthen its presence in the beauty segment. Akind joins Tira’s existing private-label brands, Nails Our Way and Tira Tools, introduced in the past two months.
Akind: A New Dimension in Skincare
Co-founded by angel investor Mira Rajput Kapoor, Akind debuts with nine carefully curated products designed to address specific skincare concerns. With prices ranging from INR 500 to 900, these products offer targeted solutions backed by meticulous formulation and extensive research into high efficacy ingredients. Akind products will be available both in Tira stores and on the official Tira website, catering to discerning customers seeking premium skincare solutions.
Mira Rajput Kapoor expressed her enthusiasm for the launch, emphasizing Akind’s commitment to quality and innovation. She underscored the brand’s dedication to crafting effective skincare solutions that enhance the beauty experience of consumers, leveraging Tira’s platform as the ultimate destination for curated beauty brands.
Reliance Retail Ventures and Tira’s Vision
Isha Ambani, Executive Director of Reliance Retail Ventures, hailed the launch of Akind as a significant milestone in Tira’s journey. She reiterated Tira’s commitment to innovation and excellence, ensuring that every product offering elevates the customer’s beauty experience. With Akind’s introduction, Tira continues to evolve and expand its offerings, reinforcing its position as a leading player in the beauty retail landscape.
Tira: Revolutionizing Beauty Retail
Reliance Retail ventured into the beauty retail space in April last year with the launch of Tira, aimed at competing with established players like Nykaa, Tata Cliq Palette, and Sephora. Tira offers a diverse range of products spanning makeup, haircare, fragrance, men’s grooming, and baby care, catering to the diverse needs of its customers. The introduction of ‘Tira Tools’ further solidified Reliance’s presence in the beauty accessories segment, enhancing its product offerings and consumer reach.
Investor Interest in Beauty and Personal Care
The launch of Akind comes amid growing investor interest in the beauty and personal care segment. Skincare solution startup CHOSEN by Dermatology recently secured significant seed funding, underscoring the sector’s attractiveness to investors. Last year, Clensta, a Gurugram-based D2C beauty and personal care startup, raised substantial funding, reflecting the sector’s robust growth potential.
Expanding Market Opportunities
The beauty and personal care segment presents lucrative business opportunities, with the market expected to grow exponentially from $5 billion in 2023 to $28 billion in 2030, at a compound annual growth rate (CAGR) of 28%. Reliance Retail’s strategic foray into skincare with Akind positions Tira to capitalize on this burgeoning market, offering consumers innovative, high-quality skincare solutions backed by Reliance’s trusted brand legacy.
