Reliance Retail announces entry into luxury jewelry segment

Reliance Retail will enter the luxury jewelry segment with a curated design-led experience, Isha Ambani, Non-Executive Director and head of Reliance Retail said during Reliance Industries’ 47th annual general meeting (AGM) on August 29.

“In jewelry, (there are) ambitious plans to enter the luxury jewelry segment with a curated design-led experience. (It will help in) exploring the fashion jewelry and accessory segment to broaden our market reach,” Isha Ambani said.

With the move, Reliance Retail will compete with new-age companies like Tata’s CaratLane and other legacy brands. To be sure, the company already operates Reliance Jewels but that is targeted at the mass market.

“In Fashion and Lifestyle, our vertically integrated operations — from designing and fabric sourcing to logistics and distribution — allow us to set trends and meet the diverse fashion needs of our customers across the country. We are the only fashion player in India with a significant presence in every segment of the income pyramid, from mass market to premium and luxury segments,” Isha Ambani added while shedding light on the broader company strategy.