Reliance Retail's fashion marketplace Ajio’s share in the retailer’s apparel sales has increased to 25 per cent.
The e-commerce company 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. Ajio competes with Walmart-backed Myntra that too specializes in sale of apparel, footwear and accessories.
Reliance Retail plans to grow its business three times in the next three to five years. This will include expanding its store footprint multi-fold this year, investing in research, design and product development capabilities and acquiring consumer-focused businesses.
It currently operates several retail formats across consumer electronics, fashion and lifestyle, grocery, pharma retail. In the last fiscal, the company added a record 1,500 stores across formats.
