NEW DELHI: Reliance Retail is all set to give the global markets a peek into Indian arts and crafts with the launch of its Swadesh stores planned in the US and Europe. “To begin with, there will be physical stores in the markets. Online will eventually follow, it is in the works. The logistics will need to be figured out first,” a source said. The first of the 10 planned stores in India was launched in Hyderabad on Wednesday.
Through Swadesh, Reliance is seeking to tap into a market for traditional products although the company sought to position it as a premium and luxury offering. It will offer consumers a broad mix of products, ranging from various apparel forms like sarees and stoles to art objects, paintings, furniture and homeware for dining and kitchen.
Although Reliance did not mention the price range of the products, with Swadesh, they seem to be taking competition to the doors of players like Tata’s Taneira and Nalli Silks in the ethnic apparel space. It will also rival brands like Fabindia, which offers a range of items starting from apparel, home linen to a host of decorative items at least in the low-to-mid tier premium space. Besides, with Swadesh’s broad choice of selection across categories, it will end up competing with a bunch of companies such Jaipur Rugs in the home furnishing and decor space among others.
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