New Delhi: Passing on the already popular Jio brand name to group's new businesses, Mukesh Ambani-led Reliance Industries has dubbed its fashion e-commerce site AJIO.com, as per ET report. The company has already named its upcoming digital wallet Jio Money.
The news report further adds that the name AJIO.com was already being discussed with some of the employees of the company as test-trial since December, but now it will be open to all through an official communication.
The latest plan of the company is seen as a bid to adopt a dual e-commerce model since it includes high margins in the fashion business in comparison to the marketplace ventures which are a low margin game.
Coming up aggressively, AJIO.com has already lined up brands such as Holster (Australia), Gizia (Turkey) and mds (Singapore) to name a few so as to distinguish its portfolio from its peers.
The company in its presentation, in October last year, informed the analysts that it is ready with the e-commerce platform for electronic products and plans to roll out an online grocery marketplace in the fourth quarter of the fiscal.
AJIO plans to keep its labels differentiated from the ones sold by Reliance Trends and Reliance Brands and take advantage of Reliance Jio's digital platform as well as the robust Reliance Retail network for deliveries and returns.