The Aditya Birla Group on Friday launched a new online fashion store abof (All About Fashion). The website has brands from both the Aditya Birla Group and other companies. The new portal aims to be one-stop fashion portal for apparel, footwear and accessories for men and women.
“We believe that fashion is a vertical that worked well for us for two reasons. One is that the vertical itself is fast growing,” Kumar Mangalam Birla, chairman of the Birla group, told reporters.
“The other is the fact that we have substantial experience in the offline fashion space. So both of these factors put together make fashion a very obvious choice for us and what we are launching today is an e-commerce portal for fashion,” Birla said.
“We may bring global brands later. We have about 5,000 PIN codes covered and have a warehouse at Bengaluru. We will have another warehouse in the NCR in the next three months,” abof.com President and Chief Executive Officer Prashant Gupta said.
The portal will offer 7,000 products initially and the company plans to take the total to 20,000 in next few months.
By the end of the calendar year, fashionwear, including apparel and footwear, is expected to be the largest retail category online, with sales of $3.9 billion, bigger than sales of electronics and consumer durables online at $3.5 billion, according to an April report by UBS Securities India Pvt. Ltd.