"In the current fiscal (2017-18) we expect to grow our business by about three times from existing levels and expect a market share of about 10-15 per cent in the next three years," abof.com president and CEO Prashant Gupta told PTI on the sidelines of India Fashion Forum here.
Online marketplaces might be discovering that having a retail store also makes business sense. Having a presence in more than one channel is also a good hedge against slowing profits from any one medium.
Kumar Mangalam Birla, chairman, AB Group expects the company's retail business vertical to have a revenue of more than USD 5 billion.
At a press conference announcing the launch, group chief Kumar Mangalam Birla said ecommerce was a surise sector and that while a lot of developments had happened, "a lot more is yet to happen".