Thread by @BiIndia

#Reliance-backed @AJIOLife is riding the Indian e-commerce wave — poses tough competition to @myntra - by @SanchDash

businessinsider.in/business/ecomm…

In April 2016, at the #LakmeFashionWeek, Mukesh Ambani’s Reliance announced its big foray into fashion e-commerce with @AJIOLife.

The segment that has been crowded by the likes of @Flipkart, @myntra (along with Jabong back then), @amazonIN, and others, left little room for @AJIOLife to outshine the others.

But the rise of e-commerce, especially as it spreads into rural India has brought about changes in the fashion e-commerce landscape. #AJIO, which up until a year ago, wasn’t even counted among the frontrunners is scripting a story of resurgence now.

.@AJIOLife latest numbers show that it’s levelling up to Myntra while moving fast ahead of other competitors like Tata Cliq, Snapdeal and Koovs. While AJIO’s website visits are higher than Myntra, it lags behind in app downloads and users.

#AJIO’s growth can be seen during lockdown when it began to see a spike in the number of app downloads.

Indian e-commerce has seen multiple stories of resurgence with a focussed approach with the most popular one being that of Snapdeal, which has bounced back and how, to be India’s third largest e-commerce platform while also solidifying its presence in Tier 2 and Tier 3 markets.

However, when it comes to the fashion category, #AJIO’s growth will still see hurdles especially as it faces tough competition from the bigwigs like Flipkart and Myntra.

“While AJIO is gaining traction, we believe competition is stiff in the online fashion market with Flipkart’s Myntra/Jabong controlling 60%+ of the market,” believe analysts at Bank of America.

But the potential remains immense – According to McKinsey’s State of Fashion 2020 report, the Indian clothing market will be worth $53.7 billion in 2020, making it the sixth largest globally.