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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