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

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Courtesy: AAFA

Fashion | On 28th Apr 2017

Andrew Rosen, Stuart Vevers among AAFA awardees

Andrew Rosen, founder and CEO of Theory, Stuart Vevers of Coach, Nick ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X