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Mukesh Ambani’s AJIO Luxe is such an unbelievable growth machine!

Tags: Ajio, Mukesh Ambani, pre ipo, Reliance, Reliance Retal

Post author:Yash Sharma
Post published:13/03/2023
Post category:Star Tales / Unlisted Companies
Post comments:0 Comments

Table of Contents

Mukesh Ambani’s AJIO Luxe is a remarkable growth powerhouse!

AJIO.com is growing damn well. And AJIO Luxe is growing so much faster than even that! 🙌

But wait a sec. Most people don’t know that Luxe and AJIO are two separate platforms.

Here is all there is to know 👇
..

AJIO was launched in FY17, and it grew at a decent pace until Covid happened.

It saw:
⚡ 4x growth in revenues
⚡ 3.5x growth in web visits
⚡ 6x growth in no. of brands
⚡ 4.6x growth in no. of products

That growth was not stupendous for a nascent e-commerce platform.
But, it was not bad either. It was promising.

Most importantly, it threw out some strategic pointers:
💡 AJIO recorded >70% of orders from Tier-3 & beyond
💡 It carried the image of a bargain-hunter’s paradise
💡 It hadn’t been able to crack Tier-1 & Metros as well

Compare that to Myntra:
It’s destination for premium brands that primarily cater to users in Metro & Tier-1. And more importantly, it is not at all known for bargains, but for quality & user experience.

Thus, Reliance saw an opportunity here.
⚡ A separate platform to grow in Metro & Tier-1
⚡ To cater to the audiences for whom brand > price

Not Levis, Numero Uno etc.

Think of Diesel, Armani, Salvatore Ferragamo, Nordgreen, DKNY, Zimmermann, Tom Ford & Zegna etc.

Get the difference?

That’s how AJIO Gold was born in Q3FY19 as sort of a pilot project.

But, when Covid struck in Q4FY20, everything changed.

📆 Q4FY20:
AJIO Gold rebranded to AJIO Luxe

📆 Q4FY21:
Expands to 60+ brands

📆 Q2FY22:
Revenue up 6x YoY
Expands to 100+ brands, 15k+ SKUs

📆 Q1FY23:
Revenue up 6x YoY
Expands to 400+ brands
SKUs reach 40k mark

📆 Q2FY23:
Revenue up 3.5x YoY
Expands to 450+ brands
SKUs reach 42k mark

📆 Q3FY23:
Revenue up 3x YoY
Expands to 470 brands
SKUs reach 45k mark

🚀🚀🚀

Just look at those unbelievable growth numbers!

Such a splendid scale-up of the platform 🙌🙌

Doubling down, Reliance Retail is also investing in brands of many top designers like Manish Malhotra & Ritu Kumar. Many didn’t know the reason why. And now they know.

It’s meant to ensure a wide range of products for Luxe 👗👜👚

Reliance Retail has entered the Indian fast-moving consumer goods sector by expanding the distribution of its private label brands, Reliance Fresh and Reliance Smart
Click Here to Know More

What excites me the most about AJIO & Luxe is that in them, Reliance has two great e-commerce businesses driving its growth in the fashion space against Flipkart-backed Myntra & Amazon.

Luxe is growing on steroids, as the numbers above show very well.

And AJIO itself is growing fantabulously!

Here is how well AJIO has scaled since Covid:
⚡ 7x growth in revenues
⚡ 8x growth in web visits
⚡ 2x growth in no. of brands
⚡ 4.5x growth in no. of items

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