Shein downloads cross two million, qcomm channel reports two-fold growth: Reliance Retail
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The new 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% Q-o-Q growth and 175 per cent Y-o-Y growth".Its operations were scaled to 4,290 pin codes serviced by 2,200-plus stores in 1,000-plus cities," said Reliance Industries 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".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.
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