On Thursday, Reliance Industries Ltd’s retail unit launched its first in-house premium fashion and lifestyle store as the company continues to grab a bigger slice of India’s luxury market. Azorte, the new store chain, would compete with Mango and Industria de Diseno Textil SA (Inditex)-owned Zara and cater to Millenials and Gen Z.

Reliance Retail’s fashion and lifestyle arm CEO Akhilesh Prasad said that the mid-premium fashion segment is one of the fastest growing consumer segments as millennials and Gen Z demand the latest in international and contemporary Indian fashion. He further said the company plans to have up to 40 stores across 12 cities over the next nine months.

He asserted that Azorte would contribute 15 per cent incremental revenue to Reliance Retail’s fashion and lifestyle business within three years. The new store chain started with a store in Bangalore and is a part of Reliance Industries’ move in the retail industry, forging partnerships with domestic and global brands.

The company will likely build a portfolio of 50 to 60 grocery, personal care, and household brands this year and is in talks to get the rights for LVMH-owned French beauty brand Sephora in India.