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Isha Ambani, the daughter of industrialist Mukesh Ambani was appointed as CEO of Reliance Retail in August last year and she was in charge of overseeing Reliance Retail’s garment division.
At present Reliance Retail is valued at 8.4 lakh crore. It is currently the only Indian retailer in the worldwide top 100 list and is among the top 10 most frequented retailers in the world with 78 crore shop visits and more than 100 crore transactions. Currently there are 18,040 Reliance Retail stores.
The Ambanis new venture Foundry is said to compete with Urbanic, Tata owned Zudio and other brands. Foundry is selling inexpensive clothing and accessories on Ajio, a Reliance owned platform for less than Rs 1000 on average. There are plans to introduce 50 new styles per day with an aim to reach 6,000 styles by next year.
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