Competition in India’s fashion e-commerce market is heating up, and the long-undisputed market leader has no time to lose if it wants to fight off India’s biggest retailer.
Reliance Retail, the retail arm of Mukesh Ambani’s Reliance Industries, has seen two striking developments in the last one year.
In July last year, it scooped apparel retailer Gap at the last minute from Flipkart-owned fashion e-commerce giant Myntra, which was already in advanced talks with the iconic American brand, says a fashion industry executive, requesting anonymity. Two years after Gap exited India by axing its contract with offline retailer Arvind Fashion, Reliance struck a deal to sell Gap’s merchandise through exclusive brand stores and on Ajio, its online fashion retail platform.
Then in May, Reliance announced a tie-up with …
Aakriti used to write at the intersection of public markets and large corporations. She joined The Morning Context from The Financial Express, where she was with the markets team, and before that had started out in business journalism as a correspondent with Reuters.
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