Reliance Industries — led by Mukesh Ambani — has been working on its new-age internet products brand Jio, for quite some time now. And adding to the diverse list of services Jio already has, it is now planning a fashion ecommerce website dubbed AJIO.com, reports Economic Times.
The company’s 4G network service is scheduled to go live commercially from April. It has also launched several apps and services under Jio brand, including Jio Chat and digital wallet service – Jio Wallet.
As if all the services were not enough, the company has now planned to start its own fashion ecommerce portal named AJIO.com which will compete against the likes of Myntra and Jabong.
According to people aware of the matter, the website has been under testing phase since December and it will be open to employees for a pilot run in the coming week.
According to the report, Reliance is planning to adopt a dual e-commerce model similar to Flipkart’s. The strategy here, could be a combination of the high margins in fashion business, and the vast range of products one could offer via an online marketplace.
The company’s e-commerce platform for electronic products is ready for deployment, while it is planning to roll out an online grocery marketplace in the fourth quarter of the fiscal. It is also planning to enroll 1,50,000 small and medium vendors for its e-commerce marketplace by the end of the current fiscal year.
If the reports are to be believed, AJIO.com has already lined up several brands from US, Russia, Turkey, Singapore, and Australia besides few other countries.
As per the source, the company aims to distinguish its portfolio through a mix of curated, exclusive global and local brands, along with handpicked artisanal products. It will also come up with its own label, different from Reliance Trends and Reliance Brands.
Reliance has already appointed Sanjay Mehra, a veteran of US firm Wolverine World Wide as the chief executive of its fashion and lifestyle ecommerce business.