High Fashion, High Price. Jio Reliance
With business interests in almost any and every sphere- from oil to yarn, or more rhetorically from pin to plane- it was only a matter of time before Mukesh Ambai led Reliance Industries Ltd. decided to enter into hi-end fashion segment. They have now, with expanding their Jio brand into the genre and christening the new baby as AJio. Apparently, this is the latest entry in the weird four letter words of the fashion industry; the best among the earlier ones being Abof (Aditya Birla house Of Fashion). The backronym of AJio is yet to be revealed by the company.
Online portal of the venture-ajio.com- was launched last Saturday, showcasing their collection at the ongoing Lakme India Fashion Week in Mumbai. The show had not one or two, but five showstoppers. All the five ladies come from completely different and varied walks of life. On the one hand, there were Suman Sharma, the first Indian woman to fly a MIG-35 fighter plane, yesteryear actor Helen, and comedian Bharti Singh; while on the other there were Laxmi Narayan Tripathi, the LGBT activist, and theIndo-Canadian porn-star turned actor Sunny Leone. Interestingly, the campaign was titled, ‘Doubt is Out’. Do the math.
As per the company’s business plan, the online store is set to feature a collection of over 200 international and national brands in all categories and merchandise, including lingerie, apparels, shoes, jewelry, and accessories. The international brands are rumored to include Gizia from Turkey, MDS from Singapore, and Holster from Australia. RIL plan to go with a dual ecommerce model of having a general ecommerce marketplace, combined with a fashion portal. Interestingly, this is the exact same strategy adapted by Flipkart, when it acquired Myntra.
It’s quite clear that the move is influenced by the high margins in the fashion segment. Now, how much of aggression is RIL willing to show in terms of pricing, quality, and service, will decide their success in this competitive field that is already dominated by players like Myntra, Jabong, and Koovs.
Going by RILs reputation of leveraging all available resources, the 4G customers of Reliance Jio can expect a flurry of SMSs and automated calls on their numbers, calling them over in a typical desi style; A-Jio, nai to…