Jabong, the Indian fashion and lifestyle e-commerce portal, witnessed a surge of 19 per cent in its revenue in the current fiscal.
Here it is imperative to mention that the cost of the online portal slumped by 6 per cent during the same period.
However, the employee as well as finance expenses continued to increase in the current financial year – 22 per cent and 140 per cent, respectively.
In early 2019, retail giant Walmart, in its bid bring in more efficiency and better results, decided to consolidate back-office functions for Myntra and Jabong.
Walmart, in this process, shifted its focus to a single premium fashion platform namely Myntra. On the cost front, it would not have made sense for Walmart – which took over Flipkart – to keep pumping cash into 3 different brands.
Gurugram-based Jabong was founded in 2012 and sells apparels, fashion accessories, footwear and home accessories among others.
Source :- https://in.apparelresources.com/