Ajio to Launch Zero-Commission Marketplace, Ajio Street, Targeting Non-Metro Customers
- ByStartupStory | April 4, 2023
Reliance’s Ajio online fashion platform is launching Ajio Street, a zero-commission marketplace for value products aimed at non-metro customers. The platform is modelled on Ecommerce start-up Meesho, with Reliance hoping merchants will attract a wider range of shoppers by being able to sell products without paying any marketplace fee or commission. Industry insiders told ETtech that Ajio, which orders gross sales of around $2bn, compared favourably to rivals Myntra, Amazon Fashion and Tata Cliq. Bernstein Research reported in February that Meesho’s range is 95% unbranded, while 80% of sellers are retail proprietors.
Reliance Industries has launched Ajio Street, an e-commerce platform aimed at increasing its customer base in the online fashion business. The platform will sell longtail fashion and accessory products with an average order value of Rs300-350, which would typically cost Rs1,000 or more on other platforms. Meanwhile, India’s start-ups are struggling due to the country’s worsening macroeconomic conditions and a lack of funding opportunities. The resulting belt-tightening has led to a significant fall in hirings for mid-to-senior leadership roles, according to executive search firms. Inbound senior candidates have risen three-fold over the March quarter.
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