Reliance Industries Ltd, the oil to yarn conglomerate, has entered into e-commerce fashion retail by launching its online fashion portal Ajio.com. It will be competing against established domestic players such as Myntra or global firms such as Amazon.
The portal is named after its telecom unit Reliance Jio and upcoming digital wallet Jio Money. It has been tested on its employees for the last three months.
The new venture will mainly focus on designer wear and high-fashion global brands to differentiate itself in the cluttered online apparel market driven mostly by discounts. The company will sell nearly 200 brands that they have already partnered.
The website will offer the largest collection of private labels for women online. Some 60 per cent of the merchandise the company sells, including national and international brands and Indie (ethnic fusion) wear, will be exclusively available on the portal. The products will be aimed at 18-34-year olds.
The company’s target is to take its delivery capacity to 15,000 pincodes over the next 2 months.