The Myntra Jabong merger has been a setback to its employees as this led to the lay off of so many workers. And now, Myntra could sack another 200 staff at Jabong in the next three months after deciding to lay off around 250 employees. Myntra’s chief executive Ananth Narayanan stated that about 250 jobs will be lost as […]
The e-commerce fashion players Myntra and Jabing that have played a major role in the industry are reportedly merging and this has come days after Walmart put the two fashion businesses of the Flipkart Group under direct control of CEO Kalyan Krishnamurthy. “Since Myntra’s purchase of Jabong in mid-2016, the two brands have been steadily integrating key […]
With senior executives resigning from various important companies, Chief marketing officer of Myntra and head of Jabong Gunjan Soni, and Myntra’s chief strategy officer and head of categories Ananya Tripathi have decided to leave the organization. Both the executives will work with their respective companies till the end of this year. “Gunjan has played a key role in firmly positioning the […]
FMCG firm Marico has appointed Myntra-Jabong CEO Ananth Narayanan on its board as an additional (Independent) Director. Narayanan’s appointment is for a five year time and is subject to the approval of the shareholders at the upcoming annual general meeting. With Narayanan’s appointment, Marico’s board now has six independent directors besides chairman and non-executive director […]
All the shopaholics, get set to welcome the new year with style and aplomb. Jabong, India’s leading online fashion retailer, has announced its participation in Myntra’s sale event, the “End of Reason Sale”, which will start from the midnight of 3rd January and continue till 5th January 2017 midnight. More than 300,000 styles from a […]
Fashion e-tailer Jabong said it saw 50 percent revenue growth month-on-month in October, closing the month with positive unit economics for the first time in its history. The Myntra-owned company achieved a positive gross profit for the first time ever, propelled by revenue growth and fulfillment cost reduction, Jabong said in a statement. However, the […]
Myntra, a fashion portal owned by India’s largest online retailer Flipkart has acquired online merchandise retailer Jabong. Sachin Bansal, Flipkart’s co-founder, confirmed the news by welcoming Jabong India to the Flipkart family in a tweet. Welcome @JabongIndia to the @Flipkart family. We’ll create history together. — Sachin Bansal (@_sachinbansal) July 26, 2016 The talks of sale were fueled […]
Jabong.com, an online retail store owned by AB Kinnevik and Rocket Internet found itself in a hot-seat when Alibaba, Future Group, Flipkart’s unit Myntra and Aditya Birla’s ecommerce ventureAbof tried to acquire it.
Online lifestyle retailer Jabong has narrowed down its gross loss to Rs 46.7 crore for 2015 on the back of lower level of discounts. The gross loss of the company stood at Rs 159.5 crore in 2014, the company’s parent Rocket Internet said in an investor presentation today. The company’s net revenue rose 7.1 per […]
Jabong, India’s one of the leading Fashion ecommerce company has raised additional funds by Global Fashion Group (GFG), so that it can stay afloat for one more year. “The board has agreed to put more than $20 million in Jabong,” a person who participated in the meeting held in Luxembourg told ET.GFG was founded in […]
Reliance Retail set to disrupt the Indian online e-commerce through its upcoming launch in Online space.
The popular online fashion and lifestyle company Myntra has reportedly launched an ethnic brand with actor Saif Ali Khan known as ‘House of Pataudi’. The company co-owns majority of the brand along with the actor and Exceed Entertainment. “We have seen a lot of searches for ethnic wear on Myntra and decided to launch a brand […]