Aditya Birla Group launches online fashion portal abof.com

Kumar Mangalam Birla led Aditya Birla Group has launched a new online fashion store Abof.com.
With this, the textiles and telecom conglomerate has entered into e-commerce space which is considered as sunrise sector from an investment point of view.
The newly launched portal abof which stands for Aditya Birla Online Fashion will offer shoppers range of merchandise brands from its subsidiaries and other companies.
It will be one-stop fashion portal with wide range of merchandise products including apparel, footwear and accessories for men and women.
Prashant Gupta is President and Chief Executive Officer (CEO) of abof.com and it will remain a private and unlisted company. The fashion portal will target young consumers with curated quality collection and will not provide discounts.
By entering in e-commerce space, Abof.com will compete with the other e-commerce fashion stores like Myntra (a subsidiary of Flipkart) and Jabong.com etc.

Month: Current Affairs - October, 2015