Reliance Industries’ subsidiary -- Reliance Retail is set to launch a chain of stores under the brand name of ‘Avantra’ that will sell ethnic wear and saree to take on Tata Group’s Tanishq, which recently forayed into the ethnic wear space, and Aditya Birla Fashion Retail (ABFRL). The company’s move comes against the backdrop of Tanishq, which is primarily a jewellery brand, foraying into the ethnic wear space. Aditya Birla’s ABFRL, too, has shown a strong interest in the segment by snapping up significant stakes in domestic designer wear labels such as Sabyasachi and Tarun Tahiliani.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
