Sunday, May 19, 2024
Html code here! Replace this with any non empty raw html code and that's it.

Latest Posts

Reliance Retail premium brands post 25% YoY growth, AJIO Luxe grows by 44%

Reliance Retail Ventures Limited (RRVL) has reported a significant expansion in its fashion and lifestyle division.

The company’s new retail formats including Azorte, Yousta and GAP continued to scale up in the quarter. Their private labels also continued to witness growth, with 3 brands surpassing Rs. 2,000 crores in annual sales demonstrating significant market acceptance and growth.

It is focused on developing its fast fashion supply chain eco-system to support the launch of new and stylish options week after week.

The company has made notable strides in consolidating its market leadership by capitalizing on seasonal events like Sankranti, Holi, and winter festivities.

The quarter witnessed AJIO’s expansion with the introduction of new brands and innovative app features designed to enhance the consumer shopping experience. The platform’s flagship event ‘All Star Sales’ registered a 36% increase in traffic, attracting approximately 300,000 new customers.

Reliance Retail’s premium brands continued to lead their premium and luxury segment with the widest portfolio of brands with 20% Year on Year (Y-o-Y) growth. AJIO Luxe showed robust performance with a 44% Y-o-Y increase in options.

Beyond apparel, the company’s jewelry business also maintained steady sales despite rising gold prices. During the quarter, RRVL remained committed to enhancing its product offerings through launches on significant occasions.

“Reliance Retail continues to deliver steady performance led by growth across consumption baskets. We continue to invest and innovate across formats and products to improve our customer value proposition and serve evolving consumer needs. Robust expansion and growth of our retail business signifies our commitment to customer centricity and confidence in India’s consumption story,” said Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited affirming this success. 

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.