AJIO.com is growing damn well. And AJIO Luxe is growing so much faster than even that! 🙌
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But wait a sec. Most people don’t know that Luxe and AJIO are two separate platforms.
Here is all there is to know 👇
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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.
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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
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Not Levis, Numero Uno etc.
Think of Diesel, Armani, Salvatore Ferragamo, Nordgreen, DKNY, Zimmermann, Tom Ford & Zegna etc.
Get the difference?
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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
🚀🚀🚀
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Just look at those unbelievable growth numbers!
Such a splendid scale-up of the platform 🙌🙌
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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
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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
Also Read: Reliance Retail Share Price has gone 4X; Synergies in Acquisitions may help future growth