Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) will launch its e-commerce platforms for fashion and electronic devices by the end of the current year, company executives said on the sidelines of a press conference to announce the firm’s second quarter earnings.
It will also launch its own smartphones under the brand name ‘LYF’ as it prepares to launch its fourth-generation (4G) mobile services later this year.
Reliance Jio Infocomm Ltd (R-Jio) is expected to roll out commercial telecom services from December. R-Jio, or Jio as the company may finally call itself, is currently in the testing phase for most of its offerings, including 4G services, a host of mobile phone applications and delivery of television content over its fibre optic network.
“The plan is to start the launch of e-commerce along with R-Jio but it will happen in a phased manner,” said Gaurav Jain, strategy head, Reliance Retail Ltd.
The fashion e-commerce platform will offer fashion and lifestyle products sourced through partnerships with international brands from Singapore, Australia, Russia, Switzerland, China and Turkey.
A separate e-commerce platform will sell all devices currently available at Reliance Digital, the company’s electronic retail chain.
Both will start operating by the end of the year. The online grocery retail business, which is already operational, will also be expanded beyond Mumbai, where it is currently offered.
In addition, the company will also start rolling out an e-commerce platform for its cash-and-carry business aimed at the 1.8 million kirana stores that it currently partners with.
The platform is under testing and already 150,000 small and medium retailers have been mapped, according to the company’s investor presentation.
Meanwhile, as the company gets closer to launching its 4G services, devices supporting those services will go on sale from Diwali.
The phones, available across price points, will be launched and marketed by Reliance Retail.
Sunil Dutt, products head, R-Jio, said the 4G smartphones will be available across price segments—from premium to affordable.