<p>Reliance Industries Ltd's retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market.</p>.<p>The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA (Inditex)-owned Zara, and cater to millenials and Gen Z.</p>.<p>"The mid-premium fashion segment is one of the fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion," said Akhilesh Prasad, chief executive officer of the fashion and lifestyle arm of Reliance Retail.</p>.<p>The company plans to have up to 40 stores across 12 cities over the next nine months, he added.</p>.<p>In three years, Azorte will contribute to 15 per cent incremental revenue of Reliance Retail's fashion and lifestyle business, Prasad said at the store launch in Bengaluru.</p>.<p>The new store chain is a part of Reliance Industries' aggressive strides in the retail industry, forging partnerships with domestic and global brands.</p>.<p>The company plans to build a portfolio of 50 to 60 grocery, household and personal care brands within this year and is in advanced talks to get the rights for LVMH-owned French beauty brand Sephora in India.</p>.<p>Reliance's luxury and lifestyle foray has been led by Ambani's daughter Isha.</p>
<p>Reliance Industries Ltd's retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market.</p>.<p>The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA (Inditex)-owned Zara, and cater to millenials and Gen Z.</p>.<p>"The mid-premium fashion segment is one of the fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion," said Akhilesh Prasad, chief executive officer of the fashion and lifestyle arm of Reliance Retail.</p>.<p>The company plans to have up to 40 stores across 12 cities over the next nine months, he added.</p>.<p>In three years, Azorte will contribute to 15 per cent incremental revenue of Reliance Retail's fashion and lifestyle business, Prasad said at the store launch in Bengaluru.</p>.<p>The new store chain is a part of Reliance Industries' aggressive strides in the retail industry, forging partnerships with domestic and global brands.</p>.<p>The company plans to build a portfolio of 50 to 60 grocery, household and personal care brands within this year and is in advanced talks to get the rights for LVMH-owned French beauty brand Sephora in India.</p>.<p>Reliance's luxury and lifestyle foray has been led by Ambani's daughter Isha.</p>