Ajio, the fashion marketplace operated by Reliance Retail, currently accounts for 25% of the retailer’s garment sales. Reliance Trends, Marks & Spencer, and other premium brands marketed via Reliance Brands Ltd are among the many fashion and lifestyle brands owned by the firm. Mukesh Ambani, chairman and managing director of Reliance Industries (RIL), stated this during the company’s 44th annual general meeting, which was conducted electronically on Thursday.
Reliance Retail is increasing its store count and investing in research, design, and product development. According to Technopak, by 2025, close to 20% of all clothing sold in India would be sold online. Ajio competes with Walmart-backed Myntra, which sells clothing, footwear, and accessories.
Aditya Birla Fashion and Retail Limited was acquired by Flipkart. It also invested Rs260 crore in Arvind Fashions Ltd subsidiary Arvind Youth Brands, which owns the Flying Machine brand. The Flipkart Group stated last year that it will collaborate to create and build goods with compelling value propositions at attractive pricing points.