The online store will be different from Tata Cliq, which deals in segments such as apparel and electronics in addition to beauty products, and existing ecommerce conglomerate verticals such as Westside which sell cosmetics, beauty, apparel and lifestyle home products online.
“Tata Digital is rapidly diversifying to capture the rapidly growing consumer-facing segment within the digital ecosystem. The group sees the upcoming venture as a strategic high-growth platform,” said one of the officials, requesting anonymity.
A Tata Digital spokesperson declined to comment.
Bye Digital, a wholly owned subsidiary of Tata Sons, holds the digital assets of the Salt-to-Software group. in May,
Tata Digital acquires majority stake in online grocery supplier BigBasket. done after
Tata Digital is buying majority stake in online pharmacy 1mg Technologies, is directly competing with Reliance-owned Netmeds. there is also
Home fitness startup Cult.fit . 546 crores invested in.
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Tata Digital is believed to have delayed the launch of its Super App As it awaits clarity on new ecommerce consumer protection rules.
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The beauty and wellness segment is seeing frenzied action and further boost to the online space as consumers continue to shop online even amid the reopening of malls and marketplaces.
A 2021 report by Avendus has predicted the online personal care and beauty market in India to touch $4.4 billion by 2025. The number of online beauty and personal care shoppers is expected to grow more than four times – from 25 million in FY20 to 110 million. FY25, it said.
Beauty & Fashion Ecommerce
Nykaa is ready to launch its initial public offering At a valuation of $4 billion. Others like MyGlamm and MamaEarth are also expanding with online and offline stores. Nykaa recently launched The Global Store to sell international beauty brands.
Purple raised $45 million in March of this year from Sequoia, VerLivest and others. Mamaearth raised $50 million in July led by Sofina, valued at $730 million. MyGlamm also raised funds from venture firm Accel.