The development, which comes as the festive and wedding season sets in, will see the brick-and-mortar chain position mid-size stores in the economy range, said three people familiar with the development.
Company to take on Tanishq
The company’s move comes against the backdrop of Tanishq, which is primarily a jewellery brand, foraying into the ethnic wear space. Aditya Birla’s ABFRL, too, has shown a strong interest in the segment by snapping up significant stakes in domestic designer wear labels such as Sabyasachi and Tarun Tahiliani.
Despite a proliferation of global apparel brands, ethnic wear continues to be the dominant segment in India, leading to several domestic and foreign brands specialising in western wear to launch desi clothing collections.
Apart from selling private labels in sarees and ethnic wear, Avantra will partner with regional weaver clusters and several third-party brands, including Nalli Silks and Pothys. “Jewellery, accessories and tailoring services will also be part of the offerings,” said a source. “The first store is set to come up in Bengaluru, followed by others in Karnataka and Andhra Pradesh.”
Women’s ethnic wear market is set to grow 10% annually.