RIL extends JIO brand with fashion e-commerce portal Ajio
3rd April 2016Category : Life StylePublished by :Rahul Verma Reading Time : 2 Minute News Sourced : India
Reliance Industries Ltd (RIL), the diversifying conglomerate, has expanded its presence in retail fashion with portal Ajio.com, focused on high-fashion brands.
The new launched portal will showcase the largest collection of private labels for women online. According to company sources, some 60% of the merchandise it sells, including national and international brands and Indie (ethnic fusion) wear, will be exclusively available on the portal. The fashion will be aimed at 18-34-year groups.
The entry into online fashion business is closely associated with the Isha Ambani, director on the board of Reliance Retail. RIL’s retail arm Reliance Retail is counted amongst the best modern retailer with revenues of Rs.17,640 crore for 2014-15, of which 54% comes from its 616 stores spread across value retail that includes Reliance Fresh and Reliance Marts. The retailer has a total of 2,621 stores spread across 200 cities which will be part of its e-commerce drive.
The company has been piloting groceries platform www.reliancefreshdirect.com also an online electronics platform is under pipeline to be launched later in the year. This will be extension to the JIO brand that owns
The online fashion has successfully groomed under the Tata Group invested in Kaaryah and Aditya Birla Group ventured into (www.abof.com) with the high growth online market place business.
Online retail is now a $14 billion market as compare to a $1 billion in 2012 fuelled by venture capital investors, who pumped in more than $9 billion over the past two years alone.
Last month government has agreed on 100% foreign direct investment (FDI) in online market places and this will make business houses to rethink their business models and structures to align with the riders was announced as a part of the FDI policy.
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