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Now, an online fashion store from Aditya Birla group
09
Oct '15
Indian multinational conglomerate Aditya Birla Group is set to launch its online fashion store abof.com that will compete with the likes of Myntra and Jabong, according to media reports.

Abof.com is the Birla group's independent fashion e-commerce business run by Aditya Birla Online Fashion which is now being set up in about two dozen cities.

Within the next 30 days, the portal is expected to go live, and Birla group boss Kumar Mangalam Birla is said to be closely monitoring its progress. However, the Aditya Birla Group refused to comment on the new website.

Abof.com lists Aditya Birla's private label under brand name abof and several fashion brands, including Vero Moda, ONLY, United Colors of Benetton (UCB) and NINETEEN.

It is also looking at bringing in some exclusive foreign online retailers in India.

Prashant Gupta, president and chief executive of Aditya Birla Group's e-retailing business is heading the new venture. Senior executive Kedar Apshankar and Vikram Bhat, chief product officer who joined the firm from Myntra about a year ago, are also part of the team.

The Aditya Birla Group is strengthening its presence across India's $6 billion online retailing market where the country's top conglomerates are now showing interest.

Last month, the Birla group through its private equity (PE) arm, Aditya Birla Private Equity, picked up a minority stake in Mumbai-based Creative Lifestyles Pvt. Ltd, a women's apparel retailer with a valuation of Rs 300 crore.

Abof.com is aiming big, and by one account, it plans to be far more exclusive than Jabong or Myntra by focusing on the top 100 labels and brands. Madura Fashion and Lifestyles Ltd, an Aditya Birla group company, also owns an in-house fashion retailing website Trendin that sells the retailer's labels such as Peter England, Allen Solly, and Van Heusen. However, abof.com will continue to function as a separate entity, the reports said. (SH)

Fibre2Fashion News Desk – India

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Courtesy: India ITME

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