2024-09-12 09:40:37
New Delhi: Bhakti Modi is the daughter of Manoj Modi, a very close associate of Mukesh Ambani. She became the CEO of Reliance Retail’s beauty platform Tira a few months ago. Bhakti Modi, about 33 years old, has worked closely with Isha Ambani. Isha Ambani is on the board of Reliance Retail Ventures (RRVL). She handles different retail formats of the group. Bhakti is also getting guidance from Reliance Retail MD V Subramaniam. Bhakti’s father Manoj Modi is one of the closest business associates of Reliance Industries (RIL) chairman Mukesh Ambani. Manoj Modi has a special place in the business house. He is included in the boards of Reliance Retail, EIH and Jio Platforms. Mukesh Ambani considers Bhakti Modi as his daughter. Manoj Modi is an old friend of Mukesh Ambani. The closeness of the two can be gauged from the fact that Manoj Modi’s daughter Bhakti was married at Mukesh Ambani’s house. When Bhakti got married in 2016, Mukesh Ambani organized the entire ceremony at his home. Manoj Modi and Mukesh Ambani have been together since college days. In Reliance office, Manoj is called MM i.e. Master Mind. This is the same Manoj Modi to whom Mukesh Ambani had made headlines when he gifted a 22 storey building worth Rs. 1500 crore.
She has been looking after work with Isha for a long time
Tira was officially launched by Isha Ambani in April 2023. Since then, Bhakti Modi has been handling strategy and execution as part of the leadership team as a co-founder at Reliance Retail. She has been working on strategy and new business ideas at Reliance Retail for some time.
Bhakti Modi was also inducted as a director in Reliance Brands in August 2022. He received an annual salary of Rs 5 crore in the financial year 2023-24.
The role is not limited to Tira only
His role is not limited to Tira alone. He is involved in shaping the entire beauty and fashion division, which also includes partnerships with Sephora and Kiko Milano. He is also involved in key strategic decisions such as bringing premium international brands to India and creating own labels, Economic Times quoted an executive as saying.
Tira competes with Nykaa, Tata Cliq Palette, Myntra and others in the beauty products market. Apart from online, Tira has also opened a dozen offline stores in top cities. Nykaa is the largest beauty retailer with sales of Rs 6,386 crore. It has a portfolio of over 3,600 beauty and personal care brands and a dozen own labels.