Shein downloads cross 2 million, Q-Com channel reports 2-fold growth: Reliance Retail
Shein India app
, selling fast fashion, has crossed 2 million app downloads within six months of re-launch and now has over 20,000 live options, according to the latest earnings report from
Reliance Industries
.
Moreover,
Reliance Retail
also witnessed a "strong pick up" in its daily orders from its
Quick-commerce
platform, "with 68 per cent Q-o-Q growth and 175 per cent Y-o-Y growth".
Explore courses from Top Institutes in
Select a Course Category
Healthcare
Digital Marketing
MBA
Data Analytics
Data Science
Technology
Product Management
Public Policy
MCA
Others
Cybersecurity
PGDM
Finance
Degree
others
Data Science
healthcare
Management
Artificial Intelligence
Leadership
Operations Management
Design Thinking
CXO
Project Management
Skills you'll gain:
Financial Analysis in Healthcare
Financial Management & Investing
Strategic Management in Healthcare
Process Design & Analysis
Duration:
12 Weeks
Indian School of Business
Certificate Program in Healthcare Management
Starts on
Jun 13, 2024
Get Details
Its operations were scaled to 4,290 pin codes serviced by 2,200-plus stores in 1,000-plus cities," said
Reliance Industries
.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Cyprus Is Open for Investors - You Might Be Interested
Cyprus Invest | Search ads
Undo
Reliance Retail, the country's largest retailer, had entered into Q-com space in October last year, challenging Blinkit, Swiggy Instamart in this fast-growing segment.
Over its Shein app, which went live earlier this year in February,
Reliance
said it "continued to receive strong traction and crossed 2 million app downloads and over 20,000 live options".
Live Events
The Shein India app features products manufactured, marketed, and sold exclusively by Nextgen Fast Fashion, a fully owned subsidiary of Reliance Retail Ventures Ltd.
Shein has re-entered the Indian market almost five years after its ban through the country's leading retailer, Reliance Retail. It was one of the apps that was banned by the Ministry of Electronics and Information Technology in June 2020 after the escalation of tensions with China.
The new Shein Platform is built and hosted in India and its ownership and control will always remain with Reliance Retail, RIL said.
Moreover, Reliance Retail fashion e-tail platform
AJIO
also continued to demonstrate improvements in key customer metrics, with new customers' revenue share reaching 18 per cent, increasing by 150 bps Y-o-Y, and average bill value increasing by 17 per cent Y-o-Y.
"AJIO Rush, a 4-hour delivery service, was launched during the quarter and is live in 6 cities with 130k+ options," said Reliance. The initiative is delivering better unit economics driven by higher average bill value and lower returns, it said.
"AJIO expanded its product catalogue to over 2.6 million options which grew by 44 per cent Y-o-Y. Several new brands were introduced on the platform during the period," it said.
Moreover, AJIO Luxe, which sells luxury iconic brands, also continued to grow and launched several new brands, taking its portfolio to 875 brands, and expanded its catalogue by 17 per cent Y-o-Y.
"Premium Brands business continued to lead the segment with the widest portfolio of brands," said Reliance. PTI
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
6 minutes ago
- Economic Times
Ease of moving places for the Indian tourist
The Indian passport gained the most strength in the last six months, according to the latest Henley Passport Index , which lists countries by the number of destinations holders can travel to without needing to obtain a prior visa. Gratifying as the development is, India now ranks 77 - up from 85 - and has quite a way to go to make it into the top 10 list. Typically, acquiring a visa becomes easier with rising per-capita income, explaining the strength of passports issued by G7 countries. By this yardstick, India remains a middle-income country that imposes 'costs' on outbound travel. Yet, the next wave of global travel is expected to be led by Indians, and it would be in the interest of popular destinations to make themselves more welcoming to the Indian tourist. A degree of reciprocity is involved with India having to make the visa process easier for inbound seem to favour destinations in Asia because of improving connectivity, favourable exchange rates and easier visa requirements. Efforts to strengthen the Indian passport within the Asia-Pacific region could accelerate the nation's climb in global rankings. India has a large untapped potential for inbound convention tourism that should benefit from improving connectivity and an easy visa regime. Saturation of this category in mature Western markets, and the geographical diversity of India's offerings against Asian competitors, should help the country meet its target of doubling its share of the global MICE (meetings, incentives, conferences and exhibitions) tourism market. The expanding footprints of the Indian aviation and hospitality industries are its rising economic power, India projects a fairly open foreign policy that contributes to the strength of its passport. The country is also the biggest supplier of migrant workers across the world. It is also the biggest recipient of remittances. This adds to the need for India to place special emphasis on facilitating foreign travel.
Time of India
21 minutes ago
- Time of India
Govt issues notices to inactive mine leaseholders in Bundi
Jaipur: The state govt has launched a drive against mines lying inactive for a long time in Bundi district, targeting leaseholders who failed to commence mineral production despite holding valid leases. Acting on official directives, the department of mines identified 159 such leaseholders. In the first phase of enforcement, notices are being issued to 121 of them. According to a senior mining official, the highest concentration of dormant mines is in Dabi and Baran regions. "Of the 433 mines in the district, operations in 149 remained suspended for a considerable time. Among these, 121 leaseholders continue to pay lease rent and royalty without initiating production, prompting the department to serve formal notices," the official said. Authorities have cautioned that if mining activities are not resumed following the notices, the leases may be subject to cancellation. However, the govt's move has sparked opposition from mine operators. They argued that despite regular payment of royalty and dead rent, they are now facing punitive action. They attribute the prolonged inactivity to factors beyond their control, including the economic slump post-Covid and a significant drop in exports due to the Russia–Ukraine conflict. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like IQ Worldwide - Test your Intelligence, know your IQ Score Try Now Undo Ashok Kumar Jain, secretary of the Bundi Sandstone Owners Development Committee, alleged that the new policy appears to be an attempt to harass mine operators. "There was no such rule earlier. Leaseholders paused operations as mineral rates were not viable. They were waiting for the right time to resume work. The govt should acknowledge current industry challenges and grant at least a year's grace period to restart operations," he said. Other leaseholders echoed similar concerns, maintaining that they have not engaged in any illegal activity and have consistently contributed to the state's revenue. They urged the govt to consider relief measures based on earlier regulations. A leaseholder also highlighted inconsistencies in enforcement, stating, "In Bhilwara district, just 2 km from Bundi, overloading is permitted, while in Bundi, strict restrictions are in place. Many operators transport material from Bhilwara using transit permits, giving the impression that no production is occurring in Bundi. These discrepancies must be addressed."
Economic Times
25 minutes ago
- Economic Times
PM Modi reaches UK; likely to seal FTA
New Delhi: Prime Minister Narendra Modi on Wednesday reached the UK with the formal signing of the landmark India-UK Free Trade Agreement (FTA) expected to be the key outcome of his two-day trip. Modi will hold wide-ranging talks with British Prime Minister Keir Starmer on Thursday. Starmer will host Modi at Chequers, the British prime minister's official country residence near London. Commerce minister Piyush Goyal is likely to sign the FTA alongside his UK counterpart Jonathan Reynolds after three years of intense negotiations. The UK views the deal as its biggest trade win since Brexit and hopes it will inject fresh momentum into research and technology partnerships with India. In 2023-24, bilateral trade between the two countries crossed $55 billion. The UK is India's sixth largest investor with $36 billion invested so far, while nearly 1,000 Indian companies in Britain employ around 1,00,000 people. Indian investments in the UK stand at close to $20 billion.
