{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Daybreak","title":"Ajio wants to course-correct, but Reliance Retail’s shadow looms large","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/8b3fc4b4\"></iframe>","width":"100%","height":180,"duration":711,"description":"Reliance has a lot to celebrate. The bidding for Jio IPO closed on Friday, more than 20 times subscribed, and with India's biggest valuation ever; the shares will list on Wednesday.\nBut the Ambani empire is bigger than just Jio, and not every member of the conglomerate is getting attention.\nTake Ajio, which is heading into the competition of festive season with falling traffic, trimmed marketing and discounts, and big brands focusing more on Myntra.\nThe new CEO of digital business, including Ajio, is Sandeep Karwa. He has the right experience, but executives told The Ken that the investment necessary hasn't arrived yet, and Reliance's control on decisions and payments limit his freedom.\nIn this read aloud of Nuha Bubere's newsletter edition of Trade Tricks by host Rachel Varghese, we look at whether Karwa can turn Ajio around.\nDaybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.","thumbnail_url":"https://img.transistorcdn.com/uPitovxKRYBGX6AWg9UrET6s3nAdkS-Ci9uZvsZj7vk/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85ODhl/ZWM4NmEwZTcxZjZk/MDRlYjAzNTNkMjJi/ZGQ2YS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}