Jabong records highest revenue growth since inception

Jabong records highest revenue growth since inception

Submitted by Subeditor on Wed, 2016-02-03 20:06 New Delhi: Jabong, India's leading online fashion retailer and one of the five fashion e-commerce companies operating within the Global Fashion Group ( GFG) reported highest ever MoM growth of nearly 35 percent in its net revenue for January 2016. Jade eServices Pvt. Ltd., which runs Jabong in India, registered the highest-ever growth statistics with an additional growth of 20 percent in the Jabong app. "2016 has started off on a momentous note for us with January becoming our most successful month yet, where we give a glimpse of the future of Jabong to our consumers, shareholders, business partners and competitors. What I have learned in the past 45-odd days at Jabong is that the basics of business remain the same across traditional and digital ecommerce if you have a strong grasp of the fundamentals of your business," said Jabong CEO and MD, Sanjeev Mohanty. "While I am glad that my fashion background has come in handy, yet this incredible, record-shattering feat would not have been possible without the untiring efforts of our team," added Sanjeev. He further added that with the lowest cash burn in the last 24 months despite the sale period, we are now targeting to be India's first e-commerce company to break even without compromising on our top line. Some players in the industry hide their real performance behind the veils of lofty GMV figures. In those terms too, we touched USD 66m in GMV in January itself positioning us as the largest fashion e-commerce company in India, with a robust growth of 56 percent in our gross orders and 59 percent in gross items. At this rate, we will be within striking range of the $1 billion GMV mark by our year-end. Filings submitted with the Registrar of Companies show that Jabong's growth in 2014-2015 was at 98 percent, which is nearly 20 percent more than its closest rival, while Jabong's losses had shrunk to 40 percent lesser than theirs comparatively. As India's preferred fashion ecommerce brand, Jabong's most recent growth indicators for January 2016 reinforce company's accelerated growth rate as it transforms itself from being a start-up to a more professionally run, profit-oriented enterprise. (ANI)