Ajio wants to course-correct, but Reliance Retail’s shadow looms large

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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. But the Ambani empire is bigger than just Jio, and not every member of the conglomerate is getting attention. Take Ajio, which is heading into the competition of festive season with falling traffic, trimmed marketing and discounts, and big brands focusing more on Myntra. The new CEO of digital business, including…