Jabong Records 50% Growth in Net Revenues, 40% Increase in App installation
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 company did not specify the gross profit made or the total revenues for October.
"Jabong has closed October with the first ever positive unit economics month, becoming only the second online e-commerce company in India to do so after Myntra," it added.
Jabong said the growth was accompanied by a surge in customer net promoter score (NPS) -- a measurement of customer satisfaction -- to 50 percent. The company held its sale in October...