Indian conglomerate Aditya Birla Group plans to launch its online fashion store abof.com in the next 30 days to compete with Myntra and Jabong.
Abof.com will be managed by Aditya Birla Online Fashion – the group’s fashion ecommerce unit. It will be launched in around 10-15 cities of India.
Abof.com will continue to operate as a separate entity, reported Livemint.
Abof.com is listed under Aditya Birla Group’s private label brand abof along with other brands of the company including Vero Moda, ONLY, United Colors of Benetton (UCB) and NINETEEN.
The company is planning to bringing some foreign direct investment into India through this online venture, reported Livemint.
Abof.com is being handled by Aditya Birla Group president and chief executive of e-retailing business Prashant Gupta, senior executive Kedar Apshankar and chief product officer Vikram Bhat.
With the launch of this store, Aditya Birla Group will mark its entry into the country’s $6bn online retail industry, which has been generating lot of interest from investors.
In September, the group bought a minority stake in Mumbai-based women’s clothes retailer Creative Lifestyles Pvt. Ltd, which is valued at Rs 3bn ($46m) and provides labels such as Fusion Beats, 109F and O2xygen.
In May, Aditya Birla Group announced the consolidation of its apparel business Madura Garments and Pantaloons and listed them as subsidiary Pantaloons Fashion and Retail (PFRL). Following consolidation, this subsidiary has been named Aditya Birla Fashion and Retail (ABFRL).