Online fashion commerce platform Ajio has started to contribute over 25 percent of Reliance Industries’ apparel business, as highlighted by the Indian group’s chairman Mukesh Ambani during the company’s 44th annual general meeting.
“Driven by innovation, Ajio now contributes to over 25 percent of our apparel business,” pointed out Ambani. Noteworthy is that Reliance Retail is the largest retailer in India by market share and a market leader across food & grocery, electronics and fashion & apparel.
Launched in 2016, Ajio now claims to be having a portfolio of over 2,000 labels and brands with five lakh listings on its platform. According to a recent report by brokerage firm Goldman Sachs, Ajio managed to leave behind the market leader in online fashion Myntra in monthly app downloads year to date.