Reliance Industries led by Mukesh Ambani, holds a renowned brand called Reliance Jio and now there is a plan to introduce it as a new business. Extending this brand further, now the company is going to start a fashion ecommerce business with the name of AJIO.com. Backed by its large network of fashion grocery and electronic stores across India, Reliance Industries looks all set to get a competitive edge in online space too.
With the Indian ecommerce industry emerging as a very lucrative investment potential, the entry of India’s biggest conglomerates like Reliance was eagerly awaited in the fashion ecommerce. At present, this website is under testing and the feedbacks are being received for the site’s performance. But by adopting a differentiated ecommerce model, Reliance wants to get a strong foothold in the ecommerce space and given its immense infrastructure and strong customer research, it promises to easily make it a success.
According to a report, the company is planning to adopt a dual ecommerce model similar to Flipkart’s model, which operates a fashion portal and a general merchandise marketplace. The company also stated that the curated fashion and lifestyle ecommerce initiative is progressing from project to operational phase through beta testing.
Reliance is one of the largest retailers of India by revenue and number of stores. So it is obvious for the rivals to feel the competition threat due to Reliance’s sudden entry in the world of fashion ecommerce!
In a presentation last October, Reliance stated that their electronic products are all set to make an entry on the ecommerce platform, while they are also planning to roll-out an online marketplace for groceries. It is also known that the company is planning to enrol 150,000 medium and small-scale vendors for the ecommerce marketplace by the end of this fiscal year.
Apart from all these efforts, Reliance has appointed Mr. Sanjay Mehra (a veteran in the fashion ecommerce sector) as the Chief Executive of this firm. AJIO also plans to influence the digital platform of Reliance Jio as well as 3000 strong Reliance Retail networks for deliveries and returns.
AJIO.com is going to have different labels from those used for Reliance Trends and Reliance Brands. 60% of its products will be sourced from national brands while some top brands from the US, Singapore, Russia, Turkey, Australia and other countries, will also be incorporated. These brands may include Gizia from Turkey, Holster from Australia and MDS from Singapore. As the company mentioned, it is aiming to have a distinguished portfolio with handpicked local and global products along with selected artisanal products.
So, Reliance is all set to make a grand entry into the general merchandising marketplace where it’d give a tough competition to major fashion ecommerce players such as Amazon, Snapdeal and Flipkart!
Ecommerce is getting bigger and better. Isn’t it?