NEW DELHI: Mukesh Ambani-led Reliance Industries is extending theJiobrand name to new businesses, the latest being a fashion e-commerce site dubbed ajio.com, said people aware of the development.The company has named its telecomunit Reliance Jio and its upcoming digital wallet Jio Money. ajio.com has been tested among some employees since December, said thepeople cited above. It will be opened to all employees later this week through an official communication, they said.Reliance plans to adopt a dual e-commerce model similar toFlipkart's, which operates a general merchandise marketplace and fashion portalMyntra, which it acquired in May last year for about$300 million.This strategy stems from high margins in the fashion business, while the marketplace ventures are low margin but encompass a vast range of products.In a presentation to analysts in October last year, Reliance said the ecommerce platform for electronic products was ready for deployment, while it plans to roll out an online grocery marketplace in the fourth quarter of the fiscal.In the presentation, Reliance said it plans to enroll 1,50,000 small and medium vendors for its ecommerce marketplace by the end of the current fiscal
Read more:http://timesofindia.indiatimes.com/tech/tech-news/Reliance-Industries-plans-to-take-on-Flipkart-Snapdeal-Amazon/articleshow/51185164.cms?utm_source=facebook&utm_medium=referral&utm_campaign=TOITech
Read more:http://timesofindia.indiatimes.com/tech/tech-news/Reliance-Industries-plans-to-take-on-Flipkart-Snapdeal-Amazon/articleshow/51185164.cms?utm_source=facebook&utm_medium=referral&utm_campaign=TOITech
