During the second quarter for current fiscal, for Reliance, the fashion and lifestyle segment grew by 32 per cent year on year. Despite the fact that the holiday season falls entirely in the next quarter, the offline business grew strongly.
Overall, Reliance Retail Venture’s gross revenue increased to Rs. 77,148 crore in Q2, FY ’24 compared to Rs. 69,948 crore in Q2, FY ’23.
It performed well online as well as offline as the company’s financials say that Ajio, the fashion e-commerce platform of Reliance expanded its catalogue by 50 per cent Y-O-Y. Its offline business delivered robust growth despite festive period falling in current quarter.
The company recently launched a new format ‘Yousta’, offering fast fashion at affordable prices targeted at the youth segment while Trends launched concept stores with future ready, immersive shopping experiences.
“I am delighted to report that we have delivered yet another quarter of stellar performance and achieved an all-time high across financial matrices. The performance is a testament to our customer-centric approach that defines Reliance Retail and we look forward to serving our customers this festive season with renewed optimism and enthusiasm.” said Isha M. Ambani, ED, Reliance Retail Ventures Limited.
