Mukesh Ambani, the richest person in India, runs the country’s most valuable company Reliance Industries which has a market cap of around Rs 17.33 trillion. The billionaire’s conglomerate has various subsidiaries under it that are spearheaded by his associates and his kids Isha Ambani, Akash Ambani and Anant Ambani. Isha Ambani has been leading one of the most valuable subsidiaries of Reliance Industries since last year. Isha Ambani was named as the leader of Reliance Retail last year and since then she has been aggressive when it comes to expansion of the company. Reliance Retail is currently valued at a massive Rs 8.2 lakh crore and its online fashion business, Ajio is reportedly set to turn profitable. As per a report by the Economic Times, Ajio will become Reliance Retail’s first profitable online venture this month.
Ajio was started by Reliance in 2017 to take on dominance of Myntra. Over the years, the brand grew significantly and is now one of the most used fashion platforms in the country. As per the report, Ajio is posting annual sales of $2 billion in terms of gross merchandise value. In the past few years, Reliance Retail has partnered with many international brands that are now exclusively available in India through Ajio.
For those who don’t know, Isha Ambani was named as leader of Reliance Retail by Mukesh Ambani in August last year. Jimmy Choo, Georgio Armani, Hugo Boss, Versace, Michael Kors, Brooks Brothers, Armani Exchange, Burberry and many other global brands are available in India as a Reliance Retail partner brand. As revealed in the by Isha Ambani in mega Reliance Industries event, Reliance Retail has opened 3300 stores last year. With 78 crore store footfall and over 100 crore transactions, Reliance Retail is among the top 10 most visited retailers in the world and the only Indian retailer in the global top 100 list.
