Jabong’s former CEO & Managing Director, Sanjeev Mohanty, has joined Levi Strauss & Co. as Managing Director of the firm’s South Asia operations. He is credited with building Benetton into the largest foreign fashion brand in the country during his 11-year stint with them.
Mohanty quit the ailing fashion e-tailer – which was then snapped up by Myntra – on July 8, 2016. He had then announced that he would remain with Jabong until ongoing discussions to find a buyer were wrapped up.
Jabong had been scouting for a buyer for about a year, the talks are led by co-owner Kinnevik AB’s CEO Lorenzo Grabau. Myntra eventually bought it over, pipping firms like the Future Group, Alibaba and ABOF.
Sanjeev Mohanty joined Jabong as CEO and MD in December 2015, in a bid to turn around the struggling firm. However, as Jabong steadily lost significant market share to competitors, he decided to call it quits.
He was then approached by the local unit of Levi Strauss & Co which had been searching for a new managing director after Sanjay Purohit left to join private equity firm Samara Capital.