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Posts Tagged ‘ Global Fashion Group ’

Myntra targets $2 bn revenue run rate, profitability in FY18

Thursday, December 1, 2016 | More »

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Flipkart-owned online fashion retailer Myntra said the company has crossed $1 billion in annualised run rate riding on an impressive 80% year-on-year growth, thanks to the $70 million acquisition of Rocket Internet-backed rival Jabong and the peak selling festive season sale events. “This year has...

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Myntra appoints Wipro exec Dipanjan Basu as CFO

Flipkart-owned fashion e-tailer Myntra said on Thursday it has hired Dipanjan Basu from software services firm Wipro Ltd as its chief financial officer. Basu was the CFO and chief operating officer at Wipro’s digital and consulting business. He will join Myntra on 17 October, the company said ...

29 September, 2016 | More »

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Why Rocket Internet’s India bets misfired

There is a scary similarity between Jabong and Foodpanda, although one is an online fashion store and the other a food-ordering marketplace. The two ventures were German Internet conglomerate Rocket Internet SE’s biggest bets in India and followed similar trajectories–from their launch, ...

27 July, 2016 | More »

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Jabong sell-off will help us move towards profitability, says parent GFG

A realisation that it will have to pump in huge amount of capital to stay in the game and a determination to get rid of its highest loss-making subsidiary led Rocket Internet-controlled Global Fashion Group (GFG) to sell off its wholly-owned subsidiary, the Indian online fashion seller Jabong at a p...

26 July, 2016 | More »

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Jabong parent ups fundraising round by $33 mn

Global Fashion Group (GFG), the parent of loss-making Indian fashion portal Jabong, has added €30 million ($33 million or Rs 222 crore) to its latest fundraise to take the total amount secured from its existing investors to €330 million ($364 million). Germany’s Rocket Internet SE invested €...

22 July, 2016 | More »

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Myntra’s cash burn higher than Jabong’s in FY15

Rocket Internet-controlled fashion e-commerce venture Jabong, which has been on the block for over a year now, was bigger as a ‘marketplace’ compared with Flipkart-owned Myntra in the year ended 31 March 2015 even as the latter burnt more money. Regulatory filings show that Myntra’...

11 July, 2016 | More »

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Former Snapdeal exec Rahul Taneja joins Jabong as chief business officer

Former Snapdeal executive Rahul Taneja has joined Rocket Internet-incubated fashion e-commerce venture Jabong as chief business officer (CBO). Taneja – who will report to CEO Sanjeev Mohanty – will be responsible for overseeing category management, pricing, creative campaigns and offline / brand...

10 May, 2016 | More »

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Jabong parent raises $339M; valuation plunges

Global Fashion Group, the parent of loss-making Indian fashion portal Jabong, has raised fresh funding from its existing investors but at a sharply lower valuation. The company secured €300 million ($339 million or Rs 2,250 crore) from Germany’s Rocket Internet SE and Swedish investment firm Kin...

27 April, 2016 | More »

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Jabong’s owner GFG raises $168M from existing investors AB Kinnevik and Rocket Internet

Global Fashion Group (GFG), the holding company of Gurgaon-based lifestyle fashion and apparel e-tailer Jabong.com, has raised €150 million ($167.7 million) from existing investors AB Kinnevik and Rocket Internet. GFG will use the money to strengthen its fulfilment, marketing and product developme...

1 July, 2015 | More »

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Jabong comes under Global Fashion Group; ex-Amazon executive named CEO of global venture

Indian lifestyle e-tail venture Jabong has been brought under a new holding firm Global Fashion Group (GFG), which also houses four other online fashion e-com startups backed by tech incubator cum investor Rocket Internet and Swedish investment firm Investment AB Kinnevik. The plan to create the eme...

8 April, 2015 | More »

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