Home / Knowledge / News / Apparel/Garments / Jabong FY15 sales double, losses almost triple
Jabong FY15 sales double, losses almost triple
18
Dec '15
Fashion and lifestyle portal Jabong crossed the Rs 1,000 crore sales mark in the year to March, doubling its revenue from a year ago but more worryingly, net loss increased almost three-fold.

According to a Registrar of Companies filing, Jabong, posted a loss of Rs 43.6 crore on sales of Rs 1,082.9 crore. A year ago, it had sales of Rs 527 crore with a net loss of Rs 16.6 crore.

Jabong's newly appointed CEO Sanjeev Mohanty clearly has his work cut out to pull out the loss making online fashion retailer from consistent poor financial performance.

Jabong, now part of Global Fashion Group portfolio, a subsidiary of German online business developer Rocket Internet, has had a bad year. The company had to be overhauled completely after the CEO and co-founder Arun Chandra Mohan and co-founder and MD Praveen Sinha left.

Before Sanjeev Mohanty took charge as CEO and MD recently, Nils Chrestin who is the Chief Financial Officer at GFG, ran the company as interim CEO. There have been reports that Rocket Internet planned to sell Jabong due to its continuous losses.

Despite showing an impressive figure of Rs 1,320.6 crore as far as growth in gross merchandise value (GMV) is considered for the calendar year ending December 31, 2014, profits have turned out to be a mirage for Jabong. (SH)

 

Fibre2Fashion News Desk – India


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search