India's RIL's fashion & lifestyle revenue up 13% YoY in Q3 FY23

Festive offers during Diwali, Prathmasthami, and Christmas gained traction with customers resulting in higher conversions and bill values.

The company’s business witnessed broad-based growth across categories, but notably men’s formals, women’s Indian wear, kids wear, and footwear did well. Winterwear was impacted due to delay in the onset of winter season, Reliance Industries said in a press release.

In Q3 FY23, the premium brands business saw a 38 per cent growth YoY led by higher footfalls and new store openings. With a focus on strengthening omnichannel experience, business launched mono-brand websites for Tumi, Hunkemoller, and Pottery Barn during the period.

The company’s lingerie business in Q3 FY23 saw a revenue growth of 62 per cent YoY across the brand portfolio.

Urban Ladder saw a revenue increase of 21 per cent YoY in Q3 FY23, with growth in store performance and digital platforms capitalising on impactful events of ‘Full House Sale’ and ‘Very Merry Sale.’

“Our performance during the quarter demonstrates the underlying strengths and efficiencies of our business model that enable us to serve our customers with excellence at all times. We remain steadfast in offering the best shopping experience across all our stores and digital platforms to deepen our bond with our customers and vendor partners,” said Isha M Ambani, executive director, Reliance Retail Ventures Limited.

Fibre2Fashion News Desk (DP)