Reliance Steps Up Omnichannel Play For Online Store AJIO
NEW DELHI: The Mukesh Ambani-led company, Reliance Industries has opened AJIO ‘shop-in-shops’ in over 100 Reliance Trends stores as a part of its omnichannel strategy, the company said in a presentation to investors for the quarter to June. In April, Reliance entered the online fashion retail business through AJIO.com, targeting shoppers who have a high-margin and curated fashion. The digital portal, named after Reliance Jio and upcoming digital wallet Jio Money, was tested on employees of the company for 3 months before it was launched officially.
Reliance Industries has also stationed AJIO browsing booths across selected Reliance Trends stores to aid customers order on the digital platform from the bricks-and-mortar stores. According to the presentation, over 1,300 trends are live on the AJIO.com website.
Reliance share price is currently trading at Rs.1015.90, up 0.10% on NSE. It opened at Rs.1018.
The diverse group with interests in media, petroleum and telecom ranks among the nation’s largest retailers and functions department chain Reliance Trends and Reliance Brands, which has partnered over a dozen premium international labels encompassing Diesel and Superdry.
Myntra, Flipkart-owned fashion retailer, which lately acquired Jabong for 70 million dollars, is also planning to open its very first store in the next 3 months, putting in place its omnichannel strategy, as it targets 1 billion dollars in sales and profitability in the coming year.
Dominated by Flipkart, Snapdeal and Amazon, India’s booming online retail business has recently seen big conglomerates jumping on the bandwagon. Tata came out with its fashion portal Tata Cliq while Aditya Birla Group launched Abof.com and recently NNNow.com. Was launched by apparel maker Arvind.
Reliance Industries is one of the Top 500 Shares recognised by the Dynamic research analysts at the end of each quarter out of the 1700 Shares which are listed on the National Stock Exchange (NSE).