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Aditya Birla set to launch online fashion store

  • The Aditya Birla
    Group is preparing to launch its online fashion store abof.com that will
    compete with the likes of Myntra and Jabong, the
    Mint reported.

    • The Aditya Birla
      Group is preparing to launch its online fashion store abof.com that will
      compete with the likes of Myntra and Jabong, the
      Mint reported.


    •  
    • Run by Aditya Birla
      Online Fashion, abof.com is the group’s independent fashion e-commerce business
      currently being piloted in more than 10-15 cities, according to sources familiar
      with the development.
    •  
    • The portal is
      expected to go live within the next 30 days and its progress is being closely
      watched by the group’s head Kumar Mangalam Birla, said one of the sources.
    •  
    • Abof.com, which is
      currently in beta stage, lists Aditya Birla’s private label under the brand
      name abof, and several fashion brands, including Vero Moda, ONLY, United Colors
      of Benetton (UCB) and NINETEEN.
    •  
    • The company is also
      looking at bringing in some exclusive foreign online retailers in India.
    • “The company plans to
      be far more exclusive than a Jabong or a Myntra by focusing on the top 100
      labels and brands. They will focus more on the curated options and sell
      products driven by content and suggestive buying,” one of the sources said.
    •  
    • 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.
    •  
    • “At Aditya Birla
      Group, I am incubating and building up a portfolio of e-tailing businesses,”
      Gupta says in his Linkedin bio.
    •  
    • The move comes even
      as Aditya Birla Group is strengthening its presence across India’s $6-billion
      online retailing market that is seeing interest from the country’s top
      conglomerates.
    •  
    • Last month, the firm,
      through its private equity arm, Aditya Birla Private Equity, had picked up a
      minority stake in Mumbai-based Creative Lifestyles, a women’s apparel retailer.

     

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