On Thursday, the retail division of Mukesh Ambani's Reliance Industries Ltd. opened its first in-house premium fashion and lifestyle store as it works to increase its share of the luxury market.

The first of a new chain of stores called Azorte, which was opened in Bengaluru, will compete with Zara and Industria de Diseno Textil SA-owned Mango and target millenials and Generation Z.

According to Akhilesh Prasad, CEO of Reliance Retail's fashion and lifestyle division, "the mid-premium fashion market is one of the fastest growing consumer segments as -

millennials and the Gen Z are increasingly seeking the latest of international and contemporary Indian fashion."

The launch is a part of the Mr. Ambani company's bold moves in the retail sector, creating alliances with national and international companies.

Isha Ambani, the Ambani family's daughter, is in charge of Reliance's luxury and lifestyle venture.