Ajio Accounts for 25 pc of Reliance Retail's Apparel Sales
Ajio Accounts for 25 pc of Reliance Retail's Apparel Sales

Ajio, the fashion marketplace of Reliance Retail, accounts for 25% of the retailer's apparel sales.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries (RIL), said at the company’s 44th annual general meeting held virtually, “Ajio has emerged as one of the leading digital commerce platforms for fashion and lifestyle with a portfolio of over 2,000 labels and brands and listing of over 5 lakh options. Driven by innovation, Ajio now contributes to over 25 percent of our apparel business.”

Reliance Retail owns multiple fashion and lifestyle brands like Reliance Trends, Marks and Spencer as well as other premium brands sold through Reliance Brands Ltd.

“Our apparel business sold nearly five lakh units per day and over 18 crore units during the year. This is equivalent to dressing the entire population of UK, Germany, and Spain once,” Ambani stated.

Ajio competes with Walmart-backed Myntra that too specializes in the sale of apparel, footwear, and accessories.

Ambani has also announced that Reliance Retail is set to grow its business three times in the next three to five years. This will come on the back of expanding its store footprint multi-fold this year, investing in research, design, and product development capabilities, and acquiring consumer-focused businesses.

“Reliance Retail continues to be amongst the fastest-growing retailers in the world. We are committed to grow our business so that we are among the top 10 retailers globally. I am confident that Reliance Retail is on a hyper-growth trajectory to grow at least 3x in the next 3-5 years,” Ambani added.

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