Outlining plans for India’s largest conglomerate Reliance Industries Ltd. – which has crossed the US $ 100 billion mark – billionaire Mukesh Ambani, who is the Chairman and Managing Director, reaffirmed expectations of rapid and sustained growth in the retail sector.
Reliance is a formidable player in both offline and online markets and has largely captured the market in the luxury, premium and bridge-to-luxury space.
Reliance Retail is also clear in its push into e-commerce – and the announcement of a rapid 5G rollout is expected to cement its position in the sector.
“Ajio, our integrated omnichannel platform, is one of the most preferred fashion destinations, with 80 per cent of purchases coming from repeat customers. Ajio Business, our new commerce initiative, works with merchant partners in 3,500 cities, giving them access to a collection of over 8,000 regional and national brands and a wide portfolio of our own brands. Last year, we sold over 430 million garments, which is enough to cloth the entire population of the US and Canada,” said Ambani, adding that the Reliance brand “continues to bring more luxury and premium global brands to the Indian customers.”
“We have acquired and partnered with some of India’s top names in couture and fashion to better serve luxury customers in India and abroad,” he added.
