- Meenakshi Kumar |
Aditya Birla Group’s fashion portal Abof has clocked an annualised gross merchandise value (GMV) of Rs 100 crores within 90 days of its launch. It was launched in October 2015. Within three months, it is seeing over 20 per cent orders from repeat customers and less than 15 per cent return versus the industry average of 20-25 per cent.
Abof is distinct from others in that it sells apparel, footwear and accessories for millennials only and the products have been designed keeping in mind 18-30 year olds. Prashant Gupta, President, Abof believes that the three key strategies that have helped them to grow are: sharp segmentation and focused targeting at millennials, personalised content and style tips. The traction in the three months, he feels, is quite healthy and seems to be working.
The fashion portal works on an inventory model and has about 55 brands which translates into 10,000-12,000 SKUs. About 40 per cent of its business comes from its own private label brand and it is clear that it will not have more than 100 brands on the site. Its services include delivery 365 days, refund on pick up and spot exchange. For delivery it has tied up with GoJavaas and Delhivery among others.