Latest news with #Ajio
Mint
a day ago
- Business
- Mint
After groceries and electronics, fashion is the next quick-commerce battleground
New Delhi: After getting urban Indians hooked on to 10-minute groceries to electronics, Indian online retailers will now battle for quick delivery of a category tailored to fuel instant gratification: fashion. On Friday, Reliance Retail Ltd, India's largest retailer, rolled out Ajio Rush, the online commerce platform's four-hour delivery service that is live in six cities. Earlier this year, Myntra expanded its quick commerce offerings with its M-Now services in Delhi and Mumbai. Brick-and-mortar retailer Libas is also increasing investments in quick commerce, using its own dark stores and partnering with third-party platforms to offer faster shipments on select items. Also read | Myntra aims to stream glamour through stories, stars and songs Fashion retailers aim to tap the preference for same-day deliveries among consumers, driven by the explosion of rapid shipping of milk, eggs, bread, fruits and vegetables. India's quick commerce market has grown 150% year-on-year, reaching $10 billion in gross merchandise value and a monthly run rate of $900-950 million, according to Redseer estimates. However, it still accounts for only 15% of the e-commerce market, estimated at $70 billion, with significant headroom to grow. Retailers have started by offering select and high-selling fashion items through quick commerce. Ajio's Rush has seen an encouraging response in its initial days, with customers placing high-value orders and initiating fewer returns, according to a senior company executive. Launched in the June quarter, Rush offers 130,000 products that can be delivered in four hours, leveraging Reliance Retail's existing store network for deliveries. "We launched Ajio Rush—the equivalent of a quick commerce service—in the top six cities. We have carved out space in our stores, and we are delivering from those stores where the promise is within four hours. That is live in six cities with 130,000-plus options," said Dinesh Taluja, chief financial officer atReliance Retail Ventures Ltd (RRVL), during the company's post-earnings call Friday evening. "These are curated options in those stores because we have a lot of data for those pincodes in terms of what's selling, and what we see are initial signs; it's still relatively young." RRVL, a subsidiary of Mukesh Ambani-owned Reliance Industries Ltd, owns e-commerce platforms Ajio and JioMart. Ajio sells brands such as Gap, M&S, H&M, and Asos. Of these, RRVL holds rights to Gap, M&S, and Asos in India. Fewer returns, larger bill sizes Taluja said orders placed via this offering lead to fewer returns and larger bill sizes. 'Average bill value is 50 to 60% higher compared to a normal transaction. In close to 12-15% of bills where we are offering this service, customers are adopting Ajio Rush; returns are significantly lower because it is addressing a need that the customer has…With better bill values and lower returns, the unit economics will improve substantially," he said. Since its launch in Bengaluru in December, Flipkart-backed online fashion platform Myntra's M-Now (30-minute platform) has been witnessing demand from customers across categories and products. M-Now has since expanded into metros like Mumbai and Delhi. Also read | Flipkart Group-owned Myntra rejigs commission to drive low-ticket sales Currently live in Bengaluru, Mumbai, and Delhi—with pilots underway in other cities— M-Now's daily orders doubled last quarter. Key spikes include a four-time jump on the first day of the End of Reason Sale, and a 4.5x surge in orders alongside a 5x increase in new customers around Valentine's Day, according to a top company executive. On Mother's Day, beauty and personal care saw a 1.4X spike, led by gifting. 'Emerging consumption trends include dressing up, grooming, home décor, and gifting," said Sharon Pais, chief business officer, Myntra in an emailed response to Mint. 'With a rich M-Now assortment featuring 600 brands,premium brands that are witnessing strong traction include MANGO, L'Oréal, Maybelline, Fossil, Calvin Klein, and Hidesign." Fashion fast delivery pioneer Over the past few years, Myntra has pioneered fast deliveries in fashion and lifestyle through M-Express, enabling 24 to 48-hour fulfilment, said Pais. Today, nearly 50% of Myntra orders are delivered within 48 hours across 600+ cities, reflecting growing consumer preference for speed-led access to premium fashion, beauty, and lifestyle, he said. Quick commerce is still dominated by sales of daily essentials such as milk, eggs, bread, fruits, and vegetables. Growth is primarily led by grocery, beauty, general merchandise, and small-ticket electronics, while traction for fashion, appliances, and furniture remains limited. And demand is largely limited to large metro cities. Queries emailed to Zepto and Instamart, India's two largest quick-commerce platforms, remained unanswered. Also read | Reliance Retail's AJIO launches D2C-focused interactive e-com platform AJIOGRAM Analysts said the move makes little commercial sense and that heightened competition is why companies are willing to tweak their business models to adapt to this change in consumer behaviour. 'At the end of the day, if consumers are willing to pay for it and companies are willing to fund this (by cash burn), then there will always be demand even if not urgent," said Harminder Sahni, managing director and partner at consulting firm Wazir Advisors. 'However, it doesn't add up or make commercial sense bringing more products on a quick service platform." Sahni said the labour arbitrage or low-cost labour in India enables newer players to enter the market and offer such services. Experiment in faster deliveries Still, Ethnic fashion retailer Libas has also rolled out its own small dark stores as an experiment to ramp up faster deliveries. It recently launched a campaign with Zepto to roll out a select range of clothing such as kurtas and leggings pan-India. "We're scaling that up. It's about cracking what products are required," said Sidhant Keshwani, founder and CEO, Libas. A few years ago, two-day delivery was the norm, but today it is seen as a curse, highlighting the consumer shift underway, he said. Also read | Ajio accounts for 25% of Reliance Retail's apparel biz 'We're setting up our own dark stores, and are pushing and convincing all the (quick commerce) partners to pick up stock from our dark stores," Keshwani said. 'We have convinced Myntra, and our pilot went live in June. Before Diwali, we are planning to set up 20 such dark stores in Delhi, Mumbai, Bengaluru." However, the rollout will not come without its challenges, he said, especially given the inventory churn retailers typically experience each season. The retailer, according to Keshwani, is being selective with inventory and opening dark stores in high-transaction areas like Delhi's Dilshad Garden.
India.com
13-06-2025
- Entertainment
- India.com
Mukesh Ambani's daughter Isha Ambani reveals she wanted to learn this special skill from dadi Kokilaben, it was about...
Mukesh Ambani and Nita Ambani's daughter Isha Ambani lives in a diamond-themed mansion with lavish indoor pool, it is worth Rs..., gifted by..., not Ambani Isha Ambani, only daughter of billionaire Mukesh and Nita Ambani, is the Non-Executive Director and has led the expansion of the digital footprint for Reliance Retail and launched new formats such as the eCommerce business Ajio and the omni-channel beauty platform Tira. Married to Anand Piramal in 2018, Isha is also a mother of twins born Aadiya and Krishna. In a heartfelt conversation with Vogue India, Isha Ambani Piramal provided an exceptional picture into her private life away from company boardrooms or business headlines. When she and Vogue India were discussing wellness trends, she was asked if she could try the ketogenic diet. Isha smiled warmly and said giving up carbs was impossible for her—they're a sensual comfort that evokes memories and simple pleasures. The Yale alumna stated that she loves carbs way too much. Terming herself a 'Carbie Barbie', Isha was quoted as saying to Vogue India, 'I like French fries, I like buttered toast, I like vada pav—anything that's full of carbs. I also like a good plate of mashed potatoes and Maggi noodles.' Isha Ambani also discussed one item on her bucket list that she can say she has ticked off and that she always wanted to learn how to cook a Gujarati thali. For anyone who does not know, a Gujarati thali is made up of three to four fresh sabzi, dal, sprouts, kadhi, beans, puri, roti, rice, chaas, papad and mithai. Isha explained that she has learned to make a Gujarati thali from scratch. While speaking to Vogue India, she said, 'I always wanted to learn how to make my grandmom a Gujarati thali. I love a good thali but always wished I could learn how to do it from scratch. So I taught myself.' She is part of the executive leadership teams as a Member of the Board at Reliance Retail Ventures Limited, Reliance Jio Infocomm Limited, Jio Financial Services Limited and Reliance Foundation (RF), Reliance Foundation Institution of Education and Research, and Dhirubhai Ambani International School. Isha Ambani never fails to impress with her stunning fashion choices at events and family functions. When asked about her fitness secret, she shared that she can hula hoop for a long time. 'I can hula hoop for a very long time. I'm trying to play pickleball with Anand. He's very into it. It's been a long time since I played sports and being competitive on the field with Anand is exciting,' she spoke to Vogue India. When it comes to the battle of food vs fitness, which one comes out on top? For Isha, it's neither. When asked what she would do if she had a day to herself, free of obligations (a true millenial answer), she answered that she would choose to spend it alone. She stated, 'I value my alone time.' 'I love reading, scrolling, looking for inspiration online. I feel like there's not that much free time to do what I want. I would like to spend a day with no commitments by myself with my phone in a room with no noise and a lot of sunlight.'
Time of India
29-05-2025
- Entertainment
- Time of India
Ajio says it's okay to overdress
HighlightsAjio's Big Bold Sale campaign, titled 'Because Fashion', celebrates the spontaneous and over-the-top decisions made by fashion lovers, encouraging them to dress stylishly regardless of the occasion. The campaign features four quirky films showcasing prominent personalities such as Ranvijay Singha, Avneet Kaur, Vedhika, and Faizal Shaikh, each styled extravagantly in everyday settings. Ajio aims to amplify the idea that it is acceptable to overdress and make bold fashion statements, with the campaign now live across various digital platforms including Instagram and YouTube. Ajio's has launched its latest campaign for its Big Bold Sale which leans into a truth fashion lovers know all too well: when the fit is right and the price is right, there's zero need for logic. Titled 'Because Fashion', the campaign highlights the spontaneous, over-the-top and irrational decisions fashion fans make. From dressing like it's fashion week just to go grab chaat, to serving looks while smashing serves on the pickleball court. The campaign brings to life four quirky films set across a food street, a dull government office, a local train, and a fast-paced pickleball match where protagonists show up styled to the gods, in places that clearly didn't call for it. But that's the point. With deals this good, why wait for an occasion? Just go, 'because fashion'. The films feature Ranvijay Singha, channelling his epic streetwear looks and sneakerhead energy, bringing maximum glam to a minimal office. Avneet Kaur, whose Gen-Z fandom is unmatched, spices up a food street with her bold looks. Vedhika, a crowd-favourite in the South, rocks Ajio's trendiest drops in a pickleball showdown. And Faizal Shaikh, with a massive online following, proves that bold looks don't need bold budgets, raising the temperatures in a jam-packed bogie of a local train. An Ajio spokesperson said, 'With the Big Bold Sale, we wanted to amplify that behaviour, to say it's okay to overdress, to clash colours, to strut through a sabzi mandi in platform heels.' Suyash Barve, head of creative at Manja, the agency behind the campaign, added, 'That behaviour, combined with Ajio's Big Bold Sale, helped us create a world where the fashion forward don't shy away from making a statement, no matter where they are.' The campaign is now live across Ajio's digital channels, including Instagram, YouTube, and in-app, with targeted amplification on leading pop-culture and fashion platforms. Watch the videos here:
Economic Times
28-05-2025
- Business
- Economic Times
NR Vandana Tex Industries IPO subscribed 72% on Day 1 so far. Check details about GMP, key dates
The initial public offering (IPO) of NR Vandana Tex Industries opened for subscription earlier today and has seen a strong response from the investor, being subscribed by 72% so far on the first day of the issue opening. ADVERTISEMENT At 1:25 pm, the issue attracted bids for 4.93 lakh shares from the non-institutional investors (NIIs) via 87 bids, while the qualified institutional buyers (QIBs) were yet to make any bids. The issue will remain open for public participation until May 30. The company plans to raise Rs 27.89 crore through a fresh issue of 61.98 lakh equity shares, with the price band set between Rs 42 and Rs 45 per investors must apply for a minimum of one lot comprising 3,000 shares, which translates to an investment of Rs 1,35,000 at the upper end of the price range. High net-worth individuals are required to bid for at least two lots, or 6,000 shares, amounting to Rs 2,70, of its listing the shares of NR Vandana Tex Industries had no grey market premium (GMP) in the unlisted market. ADVERTISEMENT NR Vandana Tex Industries is a textile company based in Kolkata that designs, manufactures, and sells cotton sarees, salwar suits, and bed sheets under the brand names Vandana and Tanya. The company uses a business-to-business model and sells its products through a network of over 1,000 wholesalers spread across 31 states in India. It also operates through various B2B platforms like Udaan and Ajio. The company plans to use the money raised from the IPO to meet its working capital needs, repay some loans, and for general corporate purposes. ADVERTISEMENT NR Vandana has delivered robust financial performance in recent years. In FY25, the company's revenue increased by 23% to Rs 271 crore, while net profit more than doubled to Rs 8.6 crore. It reported a healthy return on equity of 17.5% and maintained a debt-to-equity ratio of allotment is expected to be finalized by June 2, and shares are likely to be listed on the NSE SME platform by June 4. The IPO is being managed by Marwadi Chandarana Intermediaries, and Cameo Corporate Services is the registrar to the issue. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
India.com
21-05-2025
- Business
- India.com
Mukesh Ambani's BIG boycott against Turkey, stop selling products on this platform, closed office in…
There is a huge backlash in India against Turkish products after their support for Pakistan during its tensions with India. Reliance's Ajio and Myntra have stopped selling Turkish brands. Trade organizations like CAIT (Confederation of All India Traders) also called for a complete boycott of Turkish goods. India's military action targeting terrorist bases in Pakistan under the 'Operation Sindoor,' and Turkey's support for Pakistan have led to public dissatisfaction with Turkey. Mukesh Ambani's Action On Turkey Mukesh Ambani's Ajio and Myntra have removed Turkish fashion brands like Koton, LC Waikiki, Mavi, and Trendyol. Ajio has also closed its office in Turkey and ended its partnership with Turkish textile firm Kivanc Tekstil. Flipkart-owned Myntra was the exclusive distributor of Trendyol and now removed the brand from its platform. CAIT represents over 125 trader leaders, has passed resolutions urging Indian businesses to close ties with Turkey and Azerbaijan. It supports restrictions on imports, exports, and tourism with these nations. AICPDF also announced an indefinite and complete boycott of Turkish products which are impacting food product sales of Rs 20 billion (around $234 million). Travel platforms like MakeMyTrip, Ixigo, Cleartrip, and EaseMyTrip have suspended services to Turkey. Ixigo has also extended this ban to Azerbaijan and China. Impact On Turkey India annually imports goods worth $2.7 billion from Turkey like mineral fuels, precious metals, and textiles. The boycott will affect Turkish exports to India as retail stores and e-commerce platforms refuse to sell Turkish products. CAIT has also called for a boycott of Indian films shot in Turkey or Azerbaijan and asked production companies to avoid these nations for promotional use.
