Online fashion store Abof eyes three times growth
April 17, 2017 - India
In the current fiscal, abof.com, the online fashion store of the Aditya Birla Group plans to grow revenues three times over the previous fiscal. The store currently retails about 125 brands, and will also add US brand Forever 21, in the near future. Despite plans to increase business three times, the portal does not expect capital requirement to grow.
This was informed by abof.com CEO Prashant Gupta to a news agency who also added that the gross merchandise value (GMV) of the ecommerce store in its peak month was Rs 25 crore in fiscal 2016-17.
"We are not focused on discounting goods, but for the next 3-5 years will have to discount goods to a smaller extent to stay in the game," Gupta informed. (AR)