India's cash-rich conglomerates Aditya Birla Group launched an online fashion retail venture abof.com (all about fashion: ae-bof), selling apparel, footwear and accessories, taking on existing players such as Jabong and Myntra(a Flipkart acquired startup).
The new venture is being led by Prashant Gupta, president and chief executive of Aditya Birla Group’s e-retailing business, along with senior executive Kedar Apshankar and Vikram Bhat, chief product officer who joined the firm from Myntra about a year ago.
Vision of ABOF.com
The snappy and glam-led platform is targeted at millennials, the aim being to offer the latest styles, a daily dose of proprietary fashion content and style tips. The webstore provides the trendiest looks of the season from around the world through its curated collection of products handpicked from brands, and from its own brand ‘abof’.
eFashion Space Future
“The e-commerce sector is a sunrise sector from an investment point of view. While a lot has happened in the last couple of years, a lot more is yet to happen in this space. We plan to stay focused on seeding and growing specific businesses in areas where we have specific strengths which we can play upon extensively. We see fashion e-commerce as one such space. With abof.com, we aim to offer a wide but curated range of merchandise and a differentiated shopping experience that can compete with the best in the world. We see abof emerging as the most admired player in online fashion within the next three years.” said Kumar Mangalam Birla, Chairman, Aditya Birla Group
Tags: abof, aditya, birla, etail, fashion, business model, revenue model,