Reliance Retail Launches Puraveda on Tira, Marks Entry into Ayurvedic Beauty

Tira, Reliance Retail’s omni-channel beauty destination, unveils Puraveda, a progressive Ayurveda brand that marks a significant addition to its growing Own Brands portfolio. Marrying ancient Indian wisdom with the precision of modern science, Puraveda offers a fresh, transformative take on holistic beauty and wellness. Puraveda’s launch marks a significant step in Tira’s mission to bring intentional, meaningful beauty experiences to today’s conscious consumer.

Bhakti Modi, Co-founder & CEO of Tira, commented on the launch, “We are thrilled to introduce Puraveda, a brand that embodies the powerful harmony of India’s timeless wellness heritage and the precision of modern innovation. At Tira, we aim to redefine beauty by bringing forward brands that go beyond aesthetics to inspire deeper connections with self-care. With Puraveda, we invite consumers to embrace Ayurveda through thoughtfully formulated products that make holistic beauty truly accessible.”

The brand’s carefully curated portfolio is rooted in tradition yet future-forward in formulation. It spans skincare, haircare, and body care—crafted to elevate everyday rituals through cruelty-free, high-performance products.

The brand launches with a debut collection featuring over 50 products across four distinct, ingredient-led ranges:

• Dhara delivers deep nourishment, powered by Sandalwood, D-Panthenol, and Lavender
• Niyama encourages mindful rituals with Kumkumadi, Squalane, and Vetiver
• Sama fosters harmony and calm, featuring Indian Rose, Tocopherol, and Hibiscus
• Urja energises and revitalises with Mogra, BHA, and Mulethi. 

Each range is anchored in a signature synergy of Ayurvedic hero ingredients and clinically proven actives, delivering sensorial beauty experiences that are as indulgent as they are effective — a true celebration of balance, vitality, and well-being.

As Tira brings Ayurveda into the spotlight with Puraveda, it reaffirms its vision of beauty that’s as conscious as it is contemporary.The Puraveda collection will be available across Tira stores and on tirabeauty.com

Reliance Retail Shut Down Its 80 Centro Stores Temporarily Within 2 Years of Launch

Reliance Retail has decided to temporarily shut down its Centro department store chain, which was launched in September 2022 after acquiring leases from Future Group's Central stores. The decision to close 80 stores within two years is part of a strategic repositioning to focus more on in-house brands like Azorte and Yousta, as well as expanding partnerships with global brands.

Reliance Centro was launched in September 2022 after Reliance Retail acquired leases from Future Group's Central stores. Initially, Reliance took over leases at multiple locations where Future Group had surrendered properties.

The closures are aimed at remodeling the store format to prioritize Reliance's own brands and a shop-in-shop model.

Brands have been asked to retrieve their inventory and fixtures from the affected locations.

Centro, which offers nearly 450 local and international brands, competes directly with Dubai-based Lifestyle International and Raheja's Shoppers Stop in the department store format.

The move comes in response to changing consumer spending patterns and a slowdown in retail sales growth.

The company plans to introduce a new shop-in-shop model, which will allow for a more streamlined and efficient retail experience.

Reliance Retail's new shop-in-shop model is designed to enhance the shopping experience by integrating in-house brands and global partnerships within existing retail spaces. The model prominently features Reliance's own brands, such as Azorte and Yousta, providing customers with a wide range of exclusive products.

The shop-in-shop model also includes international brands like Gap and Superdry, which Reliance has partnered with or acquired.The redesigned stores will have a more streamlined layout, making it easier for customers to navigate and find products.

By integrating multiple brands within a single store, the model aims to offer a more diverse and convenient shopping experience. The model is expected to improve operational efficiency by optimizing space utilization and reducing the need for separate standalone stores for each brand.

The presence of multiple brands in one location can attract more customers, increasing footfall and sales.

Further, Reliance can reduce operational costs associated with maintaining multiple standalone stores by consolidating brands into a single space.

Offering a variety of brands and products in one location can enhance customer loyalty by providing a one-stop shopping solution.

This strategic shift is part of Reliance Retail's broader plan to adapt to changing market dynamics and consumer preferences, ensuring long-term growth and success.

This repositioning is expected to help Reliance Retail streamline its operations and better align with market demands.

Reliance Retail reported a 3.5% decline in revenue for the quarter ending in September 2024, attributed to weak demand in the fashion and lifestyle segments.

The retail market has seen a slowdown in growth, with consumer spending becoming more cautious. This has impacted sales, particularly in the fashion and lifestyle segments.

Luxury Beauty Chain Sephora Ties Up With Reliance Retail Ventures

Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora's 26 stores across 13 cities from Arvind Fashions

Sephora, the world’s leading omni-channel prestige beauty retailer, announced a partnership with Reliance Beauty & Personal Care Limited, a wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL) to advance their shared ambition to develop and define the future of prestige beauty retail in India. The partnership gives RRVL exclusive rights to build and enhance Sephora’s presence in India across channels.

Since its first foray into India in 2012, Sephora has leveraged its unique brand and product curation capabilities and strong point of view on beauty and experiential retail to cater to the beauty needs of India’s vast consumer base.

“We are tremendously excited to partner with the largest retail group in India to step-change our business. Rising affluence, increasing urbanisation and the proliferation of social media have driven greater awareness of self-care and beauty, unlocking major opportunities for prestige beauty. It is an opportune time for us to invest in expanding our presence, and bring new, exciting, and exclusive brands to delight our growing community of beauty enthusiasts,” Alia Gogi, Asia President, SEPHORA. “We are equally grateful to Arvind for their partnership over the past eight years to get us positioned for the next stage of growth.”

"We are excited and proud to partner with Sephora, a global leader in beauty. The burgeoning Indian beauty market is being propelled by a new generation of customers with a strong desire to express their individuality, rising aesthetic refinement and a growing number of women in the young workforce of India. The Indian consumerism journey is at a tipping point, providing the perfect tail wind to this partnership. Importantly this partnership will help us straddle across the value chain in beauty and personal care segment,” said V Subramaniam, Director, Reliance Retail Ventures Limited.

As part of the partnership with Sephora, Reliance Beauty & Personal Care Limited will take over the current India operations of Sephora's 26 stores across 13 cities from Arvind Fashions Limited, as it sets in motion a plan to expand Sephora's presence in the country. During this period of transition, the stores and website will be operating business as usual. Reliance Beauty & Personal Care Limited operates the beauty business for RRVL and this partnership will boost its portfolio of offerings.

The Indian beauty and personal care market pegged at USD 17 bn and set to grow at a 11% CAGR, is still believed to be in its infancy; positioning India as one of the largest untapped consumer markets globally. Not only is RRVL the largest retailer in India and one of the fastest growing globally, it also uniquely combines deep consumer insights with unparalleled customer access, both offline and digitally.

ABOUT SEPHORA:

Sephora is the world’s leading global prestige beauty retail brand. With 46,000 passionate employees operating in 35 markets, Sephora connects customers and beauty brands within the world’s most trusted and dynamic beauty community. We serve a highly engaged community of hundreds of millions of beauty followers across our global omnichannel network of more than 2700 stores and iconic flagships, and our e-commerce and digital platforms, offering personalized and immersive seamless experiences across every touchpoint. With our curation of close to 300 brands and our own label, Sephora Collection, we offer the most unique and diverse range of prestige beauty products, tailored to our customers’ needs from fragrance to make-up, haircare, skincare and beyond, as we constantly reimagine the world of prestige beauty.

Since our inception in 1969 in Limoges, France, and as part of the LVMH Group since 1997, we have been disrupting the prestige beauty retail industry. Today, we continue to break with convention to drive our mission to expand the way the world sees beauty.

RRVL, through its subsidiaries and affiliates, operates an integrated omni-channel network of over 18,650 stores and digital commerce platforms across Grocery, Consumer Electronics, Fashion & Lifestyle and Pharma consumption baskets and has partnered with over 3 million merchants through its New Commerce initiative. Reliance Retail Limited, a subsidiary of RRVL, is the only Indian retailer in the global Top 100 and amongst the fastest growing retailers globally as per Deloitte's Global Powers of Retailing 2023.

RRVL reported a consolidated turnover of ₹ 260,364 crore ($ 31.7 billion) and net profit of ₹ 9,181 crore ($ 1.1 billion) for the year ended March 31, 2023.

Reliance Retail In Talks To Raise Fresh $1.5 Bn from Existing Investors

After securing $250 million from American global investment company KKR & Co Inc just a few days back, Reliance Retail is planning to raise another fresh funds from its existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new fundraise of around $1.5 billion, reported news agency Reuters, citing three sources with direct knowledge of the development.

Reliance Retail is in talks with the investors as per its internal target of raising $3.5 billion by the end September. The company has raised 1.25 billion in total, in last two months.

Notably, QIA last month announced a $1 billion investment and KKR & Co this week $250 million.

Singapore's GIC, the Abu Dhabi Investment Authority (ADIA) and Saudi Arabia's Public Investment Fund (PIF) are looking to invest at least $500 million each in Reliance Retail at a valuation of $100 billion, said the Reuters report citing one of its sources.

The report further states that some of the investors may invest less than $500 million, and thus, Reliance Retail is also looking at some other investors for raising funds to complete its target of $1 billion.

Additionally, Reliance Industries, the parent of Reliance Retail, could also invest in the ongoing fundraising round.

GIC, PIF and ADIA are among the world's biggest investment funds, and together they own a 4.4% stake in Reliance Retail.

GIC is Sovereign wealth fund established by the Government of Singapore in 1981. It has invested in more than 40 countries worldwide and manages the Singapore's foreign reserves.

Reliance Retail's parent Reliance Industries is India’s largest private sector company, with a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit INR 1,25,951 crore (US$ 15.3 billion) and net profit of INR 73,670 crore (US$9.0 billion) for the year ended March 31, 2023.

US-based KKR Increases Stake in Reliance Retail By Investing Additional ₹2,069.50 Cr

Reliance Retail Ventures Limited (“RRVL”) announced today that global investment firm KKR & Co Inc ("KKR"), through an affiliate, will invest ₹ 2,069.50 crore ( ~ approx $250 million) into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.361 lakh crore, which makes it among the top four companies by equity value in the country.

This comes within weeks after RRVL raised funds amounting ₹ 8,278 crore (approx. US $1 billion) from Qatar's sovereign wealth fund, Qatar Investment Authority (QIA).

KKR’s follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully-diluted basis.

This, combined with its stake from its investment of ₹ 5,550 crore in RRVL in 2020, will take its total equity stake in RRVL to 1.42% on a fully-diluted basis. In 2020, RRVL raised an aggregate amount of ₹ 47,265 (US $5.71 billion) from various global investors, at a pre-money equity value of ₹ 4.21 lakh crore ($52 billion).

RRVL, through its subsidiaries and associates, operates India's largest, fastest growing, and most profitable retail business serving 267 million loyalty customers with an integrated omnichannel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.

RRVL’s vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers, empowering micro, small and medium enterprises (MSMEs) and working closely with global and domestic companies as a preferred partner, to deliver immense benefits to Indian society, while protecting and generating employment for millions of Indians. RRVL, through its New Commerce business, has digitized more than 3 million small and unorganised merchants. This will enable these merchants to use technology tools and an efficient supply chain infrastructure to deliver a superior value proposition to their own customers.

Founded in 1976, KKR has approximately $519 billion in assets under management (AUM) as of June 30, 2023. KKR has a long history of building leading global enterprises that are at the forefront of technology and digital transformation, including in the areas of consumer retail and eCommerce, as well as a track record of supporting leading corporations in India.

KKR’s follow-on investment in RRVL furthers its relationship with Reliance Industries Limited. In addition to its investment in RRVL, KKR is also an investor in Jio Platforms Limited, a leading digital services platform and a subsidiary of Reliance Industries Limited.

Reliance is India’s largest private sector company, with a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit INR 1,25,951 crore (US$ 15.3 billion) and net profit of INR 73,670 crore (US$9.0 billion) for the year ended March 31, 2023. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

Currently ranking 88th, Reliance is the largest private sector company from India to feature in Fortune’s Global 500 list of “World’s Largest Companies” for 2023. The company stands 45th in the Forbes Global 2000 rankings of “World’s Largest Public Companies” for 2023 - top-most among Indian companies. Reliance has been ranked among the world's 20 best companies to work with, highest amongst Indian companies in Forbes’ World's Best Employers for 2022.

Qatar's Sovereign Fund QIA Invests $1 Bn in Reliance Retail at $100 Bn Valuation

Qatar's sovereign wealth fund, Qatar Investment Authority (QIA), announced on Wednesday that an investment of ₹ 8,278 crore (approx. $1bln) into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited . QIA is making this investment for a minority equity stake of 0.99% in RRVL on a fully-diluted basis.

With this fresh investment from QIA, RRVL values at a pre-money equity value of $100 billion or Rs 8.27 lakh Crore. QIA’s investment comes as the Qatari fund seeks to further invest in India’s fast-growing economy. 

QIA said that investment in Reliance Retail is demonstration of its diversified approach to global investment and confidence in India’s fast-growing economy. India’s growth trajectory and national focus on innovation aligns with QIA’s investment approach to support companies in India with high-growth potential.

Recent investments from QIA in India have included companies in the technology, media and telecoms sector, retail sector, and in green energy investments.

The previous fundraise round by RRVL in 2020 from various global investors of an aggregate amount of ₹ 47,265 crore was done at a pre-money equity value of ₹ 4.21 lakh crore.

In November 2020, Saudi Arabia’s Public Investment Fund (PIF) invested ₹9,555 crore for a little over 2% in RRVL.

To date, Reliance Retail has raised about $7.4 billion in total 7 rounds from Qatar and Saudi's sovereign wealth funds, Abu Dhabi Investment Authority, Singapore's GIC, TPG, General Atlantic, Mubadala and Silver Lake among others.

Ms Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited, said, “We are delighted to welcome QIA as an investor in the Reliance Retail Ventures Limited. We look forward to benefitting from QIA’s global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance’s retail business model, strategy and execution capabilities."

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, “QIA is committed to supporting innovative companies with high-growth potential in India’s fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India.”

RRVL, through its subsidiaries and affiliates, operates an integrated omni-channel network of over 18,500 stores and digital commerce platforms across Grocery, Consumer Electronics, Fashion & Lifestyle and Pharma consumption baskets and has partnered with over 3 million merchants through its New Commerce initiative. Reliance Retail Limited, a subsidiary of RRVL, is the only Indian retailer in the global Top 100 and amongst the fastest growing retailers globally as per Deloitte's Global Powers of Retailing 2023.

Reliance To Acquire Controlling Stake in Fashion House "Ritu Kumar"

Reliance Brands, a part of Reliance Retail, is set to acquire the fashion house Ritu Kumar. Reliance Brands is the premium-to-luxury brands operator of Reliance Retail.

According to media reports, Reliance Brands will acquire around 30% stake of private equity firm Everstone Capital in fashion house Ritu Kumar. It will also buy a substantial part of the promoter's holdings.

According to a leading daily source, Reliance will take an appropriate controlling stake in the fashion house and the promoters will hold a minority stake. However, no response has been received from both the companies in this regard so far. Ritu Kumar Fashion House Owns 4 designer brands. These include Label, RI, Arke and Ritu Kumar Home.

Ritu Kumar Fashion House is a 5 decade old company. The company has been looking to raise funds for the expansion for the past several years. Fashion designer Ritu Kumar started her fashion house in 1969 through a store in New Delhi. With the passage of time, the fashion house became popular for its contemporary designs like suits, tunics, lehengas, ethnic jackets and bridal collections. The Indian designer brand has around 7 dozen physical outlets.

Reliance Brands may announce the deal next week, said the media reports further. With this deal Singapore-based Everstone will exit from Ritu Kumar Fashion House. Everstone, a private equity firm, had invested around Rs. 100 crore in 2014 to buy a stake in Ritu Kumar Fashion House.

Reliance Brands sells several brands, including Brooks Brothers, Burberry, Jimmy Choo and Gas.

Founded in 1969, Ritu Kumar is the largest & most respected designer-wear brand in India. The founder of the fashion house Mrs. Kumar became the first woman to introduce the 'boutique' culture in India under the brand name 'Ritu'.

In October 1999 Christie's of London published Ritu Kumar's book "Costumes and Textiles of Royal India" a definitive chronicle of the history of India's royal patronage to textile arts down the centuries starting with the historical context of Mohenjo Daro to the present era of vintage royalty. The book is an academic fashion history text which has become a key reference for its field in India.

Alibaba to Pick 50% Stake Worth $5-6 Billion in Reliance Retail To Launch E-Commerce JV in India

The great Indian consumer market, be it of any sort, is on rampage as within six months of Flipkart acquisition by Walmart, its now China's Alibaba Group Holding who is reportedly in talks with Reliance Retail to enter in a joint venture (JV) worth massive US$5-6 billion.

According to a report by LiveMint, Alibaba’s chairman Jack Ma held talks with Reliance Industries’ chairman Mukesh Ambani, who is also an India's richest man, in July-end in Mumbai and discussed about plan to create a large omnichannel i.e. both online as well offline, retail entity through the proposed JV, the report said.

Alibaba has moved a proposal according to which its willing to pick up a significant stake in Reliance Retail -- preferably 50% -- which will require Alibaba to invest $5-6 billion and it could also result in a strategic JV between Alibaba and Reliance Retail, with a smaller stake held by Alibaba, the report added.

If this massive deal goes through, it will be the largest investment by Alibaba in an Indian company.

In India, Alibaba Holding Group and its affiliates has picked up the stake in number of Indian companies including Paytm, Bigbasket and Zomato, among others.

Citing a person privy to this development, the report added that Alibaba had picked up the stake in Paytm with the objective of benefiting from Paytm’s successful e-commerce and digital wallet business in India. Reliance Retail is planning a similar model like Paytm, and once that happens, Alibaba will benefit the same way it was gaining from its association with Paytm.

Notably, Taobao and its spun off Tmall are two of the world’s largest and most popular online retail marketplaces operating in china and owned by Alibaba group, and both these e-commerce entities have together achieved a total transaction volume of $478.6 billion in fiscal 2016, and hope to double the figure to over $900 billion by 2020. As of February 2018, Taobao had at least 580 million monthly active users, while Tmall had 500 million.

With over 1 billion product listings as of 2016, the combined transaction volume of Taobao a C2C Marketplace, and Tmall.com, a B2C online marketplace, reached 3 trillion yuan in 2017, which is more than that of all US retailers and e-commerce sites combined together.

The JV between Alibaba and Reliance is also being seen as a strategic move to challenge the likes of Flipkart and Amazon who have been making significant inroads in the Indian e-commerce industry. Just few days back, Amazon has completed its five years in India and invested fresh ₹2,700 crore in its India operations.


In February this year, Alibaba has already invested whopping $500 million in India's Bigbasket and Zomato. Last month, the Chinese firm also picked up a $35 million stake in logistics startup Xpressbees, spun out of baby products retailer FirstCry.

About Reliance, its another subsidiary, Reliance Jio, is also planning to make entry into India's online grocery market by linking manufacturers, kirana stores and corner shops to his Reliance Jio customers and mint money.

It may also be recalled that in last November, Adani Wilmar, the company that markets ‘Fortune’ brand of food products in India, also announced its plans to enter the online grocery sales business with a new e-commerce portal and app called ‘Fortune Online’.

Aditya Birla Group to launch E-Commerce project in India

The Aditya Birla group is all geared to launch a project to back the e-commerce industry. This can be seen as the group’s huge step of cashing in on the rising online business. The online business is flourishing like never before due to rising disposable incomes, rapid adoption of Smartphones and an increase in the number of young consumers.

Recently, Reliance Retail had also announced about its plans of entering the e-commerce arena of India by launching multi-channel shopping from this year.

Prashant Gupta, who currently heads the chairman’s office at Aditya Birla, has been named to be the leader of the new project. Gupta is a hardworking professional and was chosen for this prestigious post due his twelve year experience at McKinsey & Co. Gupta has been able to gain deep insights into the long-term potential of various businesses due to his this experience.

Gupta is an alumnus of the prestigious Indian Institute of Management, Ahmedabad and had joined the group as a President in 2010.  Ever Since joining, his main duties had been assisting KM Birla in strategic planning and monitoring of diversified businesses.

Gupta’s current job is to do an extensive study and research of the whole e-commerce space and then evaluate the business potential and then based on his evaluation and study, the group would decide whether it should go ahead with the project or not.

In a similar move in 2007, the group had moved the then CFO Sumant Sinha to head the push into the retail business. He has played a huge role in building up the retail business and in taking over Trinethra, a Hyderabad based supermarket.

A recent study conducted by McKinsey estimated that India will have around 330 to 370 million people online by next year. This clearly shows that India is on the verge of an internet boom.

The Indian e-commerce market has been estimated at $13 billion in 2013. Online sales of retail goods amounted to $ 1.6 billion in 2013 and this figure is expected to escalate to $ 76 billion by 2021.

It seems Indian e-commerce market has found a major backer in Kumar Mangalam Birla of the Aditya Birla Group.

Aditya Birla Group to launch E-Commerce project in India

The Aditya Birla group is all geared to launch a project to back the e-commerce industry. This can be seen as the group’s huge step of cashing in on the rising online business. The online business is flourishing like never before due to rising disposable incomes, rapid adoption of Smartphones and an increase in the number of young consumers.

Recently, Reliance Retail had also announced about its plans of entering the e-commerce arena of India by launching multi-channel shopping from this year.

Prashant Gupta, who currently heads the chairman’s office at Aditya Birla, has been named to be the leader of the new project. Gupta is a hardworking professional and was chosen for this prestigious post due his twelve year experience at McKinsey & Co. Gupta has been able to gain deep insights into the long-term potential of various businesses due to his this experience.

Gupta is an alumnus of the prestigious Indian Institute of Management, Ahmedabad and had joined the group as a President in 2010.  Ever Since joining, his main duties had been assisting KM Birla in strategic planning and monitoring of diversified businesses.

Gupta’s current job is to do an extensive study and research of the whole e-commerce space and then evaluate the business potential and then based on his evaluation and study, the group would decide whether it should go ahead with the project or not.

In a similar move in 2007, the group had moved the then CFO Sumant Sinha to head the push into the retail business. He has played a huge role in building up the retail business and in taking over Trinethra, a Hyderabad based supermarket.

A recent study conducted by McKinsey estimated that India will have around 330 to 370 million people online by next year. This clearly shows that India is on the verge of an internet boom.

The Indian e-commerce market has been estimated at $13 billion in 2013. Online sales of retail goods amounted to $ 1.6 billion in 2013 and this figure is expected to escalate to $ 76 billion by 2021.

It seems Indian e-commerce market has found a major backer in Kumar Mangalam Birla of the Aditya Birla Group.

Reliance Retail (RIL) to launch E-Commerce portal this year

Reliance Industries Limited (RIL) has finally announced that it is planning to enter e-commerce arena of India, the company is poised to launch multi-channel shopping in the this year only as per groundreport.com. Reliance retail was established eight year ago under the stewardship of Mukesh Ambani.

Reliance Retail is the biggest player in the fast-growing Indian retail market with 1,691 stores all over India spread across 11.7 million sq. ft., space in 146 cities. These figures will surely help Reliance to smoothly enter e-commerce market in India as they already have an edge of established brands and core customer connect.

Across India, Reliance Retail serves over 2.5 million customers every week. Its loyalty programme, 'Reliance One', has the patronage of more than 6.75 million customers.

Although Reliance has e-commerce portals in some of its international fashion brands and a website for its consumer electronics, iStore is one such e-commerce store by Reliance Digital which is a one-stop-shop for all Apple products and services. However it is for the first time that the company is exploring e-commerce in value business, digital and fashion, which accounted for nearly 90 per cent of its revenues in FY 2014

The burgeoning e-commerce market in India that accounts nearly $16 billion in 2014 is perhaps the main reason that Reliance retail choose this as a perfect time to have an online presence.

The penetration of e-commerce is comparatively low to markets like US and the UK however it is growing at a much faster rate than US or UK. India has close to 10 million online shoppers and is growing at an estimated 30%. On March 7, 2014 India's homegrown Flipkart claimed it has hit $1 billion (Rs.6,000 crore) in sales.

In financial year - 2014, Reliance retail generated revenues of Rupees 14,496 Crores and posted an after-tax profit of Rupees 180 Crore.