Reliance Industries, the Indian multinational conglomerate, is looking to expand its presence in the e-commerce sector with the launch of Ajio Street. The fashion e-commerce venture Ajio, owned by Reliance, is creating a new marketplace model for low-priced, longtail fashion items.
According to a report by Economic Times, Ajio Street will operate on a zero-commission model, encouraging merchants to onboard the platform. The new marketplace aims to offer better payment settlement terms with a 15-day payment settlement offer.
Ajio is already competing with other e-commerce giants like Flipkart-owned Myntra, Tata Cliq, and Nykaa Fashion. With the launch of Ajio Street, the company will also compete with Meesho, an e-commerce platform that allows resellers to sell low-cost products, with a focus on Tier-II and III cities and towns.
The move into the low-priced, longtail fashion market is a strategic one for Reliance as it looks to deepen its reach in the e-commerce sector. With Ajio Street, Reliance hopes to offer a better platform for small merchants to sell their products and reach a wider audience.
