THE RIVALRY BETWEEN two of the country's best-known retailers - Reliance Retail and Nykaa - is beginning to play out in multiple categories. After Reliance Retail stepped into the beauty retail space in April with Tira, an online-and-offline beauty destination, to counter Nykaa, the country's largest organised retailer has set its sights on the women's innerwear market.
Around 60-70% of the $6-billion innerwear market in India is unorganised, with the balance 30-40% being organised with online and offline brands. The organised market is growing at around 15-20% per annum, making it a compelling story for retailers, industry experts said.
To be sure, Reliance Retail has six innerwear brands in its portfolio, including private label Hush retailed through Reliance Trends, acquired digital brands Clovia, Zivame and Amante and partnerships with international brands Marks & Spencers and Hunkemoller, persons in the know said.
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