Thread by @jshilanjanm

Mukesh Ambani’s AJIO Luxe is such an unbelievable growth machine! 🚀🚀

But, most people don’t know that Luxe & @AJIOLife are two separate platforms.

Here is all there is to know 👇

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

It was promising.

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 a 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

Not Levis, Numero Uno etc. Think of Diesel, Armani, Nordgreen, DKNY, Zimmermann, Tom Ford & Zegna etc.

Get the difference?

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

🚀🚀🚀

Just look at those unbelievable growth numbers!

Such a splendid scale-up of the platform 🙌🙌

Doubling down, Reliance Retail is also investing in brands of many top designers like @ManishMalhotra & @RituKumarHQ. Many didn't know the reason why. And now they know.

It's meant to ensure a wide range of products for Luxe 👗👜👚

What excites me the most about AJIO & Luxe is that in them, Reliance has two great ecom platforms driving growth in the fashion space.

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

Join my Biz News group: openinapp.co/oi1xn

PS: I actively write about the Indian economy, startups & stock market. If interested, do follow. I share a post everyday at 8.30am ⚡

#Reliance #AJIO #AJIOLuxe #Luxe #MukeshAmbani #Myntra #Stocks #IndianStocks #StockMarkets