Aditya Birla Group's high-end shopping portal abof.com aims to get up to 15 per cent market share of the country's e-commerce fashion segment.
"We expect the fashion e-commerce industry to be around $10-$15 million by fiscal 2020 ... We are targeting 10-15-per cent share in this space in five years. Online fashion is a billion-dollar opportunity for us," abof.com president and chief executive officer Prashant Gupta told the media here on Tuesday.
"While our competitors are offering deep discounts, that is one area which we do not want to get into. We will focus on offering good-quality and high-fashion products," Gupta said.
"Unlike our competitors, we will also not offer many brands. At present, we have about 55 brands and in the next six months, the number will go up to 100-125 brands. We will only sell brands that are meaningful for our customers."
The Aditya Birla Group had launched abof.com on October 16. The portal launched 3D trial rooms for its customers on Tuesday to help them virtually try clothes before buying them. The Aditya Birla Group also owns trendin.com through Madura Fashion and Pantaloons . It competes with rivals such as Jabong and Flipkart -owned Myntra in the ecommerce segment.
According to industry body IAMAI, India's e-tail market is expected to grow 10 times from its current level to $50 billion by 202, primarily driven by better Internet penetration and higher incomes.
Aditya Birla Group chairman Kumar Mangalam Birla had said at its launch, "We see the potential to build another billion-dollar business of the Group in this space."