Jabong.com owned by Global Fashion Group (GFG) is in the process of going through some major changes. It is going to add fresh faces to its senior management and put in fresh capital, it aims at reversing its slowing business in India. Interim chief executive officer at Jabong (CEO) Nils Chrestin who is also CFO at GFC talks about the how GFG plans to execute its new strategies to revive Jabong’s business.
Jabong is in its growth phase, where it relies heavily on discounting and marketing. However this strategy can’t be sustainable, in the long run eCommerce businesses have to work like offline retail houses, switching between full price seasons and discount seasons. Jabong is going to be among the first profitable Indian e-commerce company. Jabong is open to any kind of transitions if it helps the business, be it letting in individual investors or manufacturing in India. Chrestin expects to see Jabong in a completely new light post the Diwali festival.