Aditya Birla Group on Friday launched abof.com, a one stop online fashion portal. The closely held company is expected to cater to the millennial generation men and women for apparel, footwear and accessories. “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,” Kumar Mangalam Birla, chairman, Aditya Birla Group said.
The Group is present in the fashion space via Madura Fashion and Pantaloons. However, chairman Kumar Mangalam Birla clarified that there was no plan to club the two with abof.com since the target audience and product offering was different. “It made sense for us to enter into fashion e-commerce to further strengthen our pole position in the business of fashion in India. We see the potential to build another billion-dollar business of the Group in this space,” Birla said.
Although there are no profitability estimates currently, the e-commerce fashion vertical as a whole is expected to see a potential demand of $15 billion in five years. Birla did not disclose the investment amount, but said it was more than enough to help the portal succeed. “We are open to financial investors at the right time and the right valuation,” he added.
Abof.com has been built as a mobile first platform, and works across a range of devices including desktops. “Today’s millennial generation wants everything fast and personalised. Within fashion, we identified this as a white space that can be tapped into by a focussed player,” Prashant Gupta, president and chief executive, abof.com, said.