Home / Knowledge / News / Fashion / Mukesh Ambani's Reliance wades into e-commerce
Mukesh Ambani's Reliance wades into e-commerce
26
Oct '15
There's going to be a new kind on the block in the country's e-commerce arena. Mukesh Ambani, the country's richest man, has announced that Reliance Industries will launch its e-commerce portal for electronics and fashion goods by the end of this year.

“Reliance Retail 2.0 initiatives encompassing fashion and lifestyle e-commerce, development of marketplace platform and building distribution ecosystem for Jio devices are on track and gearing up for rollout in a staged manner,” RIL said in a press release announcing its earnings for July-September 2015.

The move will pit the 58-year-old Ambani, chairman of Reliance Industries against Flipkart's 34-year-old co-founder and chief executive officer Sachin Bansal and 32-year-old Kunal Bahl of Snapdeal.

Stepping into e-commerce was not a sudden decision and Reliance had been preparing for it. Last year, Reliance Retail took tentative steps into the crowded sector without much fanfare. Reliance Retail's Reliance Fresh Direct virtual store has started taking online orders for groceries, fresh produce and household items and offering the service in a few neighbourhoods in Mumbai.

RIL also has another advantage. The company's telecom venture Reliance Jio is likely to be of great assistance to the company's online retailing plans through its mobile wallet, Jio Money and 4G telecom services.

The company plans to launch its e-commerce platforms with 150,000 vendors. That's large comparison to Flipkart which operates with only around 40,000 sellers on its platform and Snapdeal, with around 200,000 vendors.

RIL will offer international brands on its fashion portal by partnering with companies in Singapore, Australia, Russia, Switzerland, China and Turkey.

The company will roll out a separate online shopping platform for all the electronic items offered at its offline retail outlets, Reliance Digital. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Mar 2021

US suspends tariffs on UK fashion-textile exports in trade dispute

The United States and the United Kingdom have released a joint...

Pic: Shutterstock

Retail | On 5th Mar 2021

German retail sales fall in Jan due to lockdown

Retail sales in Germany fell more than expected in January this year...

Pic: Target

Retail | On 5th Mar 2021

US retailer Target announces 2021 strategic investments

Target Corporation recently announced its plan to invest $4 billion...

Interviews View All

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search