abof.com (aka – all about fashion), an online fashion platform for apparel, footwear and accessories and a subsidiary of Fortune 500 company Aditya Birla Group is reportedly planning a shutdown. An Inc42 source on condition of anonymity told us that employees were informed in a townhall meeting that the company is planning to wind up its operations by December end this year.
However, no official email has yet gone out to employees as of the publication of the story.
As per the source, online fashion venture, abof.com is not laying off employees but the parent company, Aditya Birla Group, will try to absorb the employees in different units wherever they can.
Inc42 tried to contact abof.com on the development and a response was awaited at the time of publication of this article.
abof.com: The Journey So Far
Fortune 500 company Aditya Birla Group had launched abof.com, an online one-stop fashion portal for millennials offering apparel, footwear and accessories in October 2015.
At the time of launch of the portal, Kumar Mangalam Birla, chairman of Aditya Birla Group, had said,