Jabong sees a turnaround; records 50 pc growth in net revenues in Oct

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Fashion e-tailer Jabong, which was acquired by arch rival Myntra a few months ago, has witnessed a 50 per cent growth in net revenues in October, according to the company.
The company claimed to have 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.
“For the first time ever, we have achieved a positive gross profit propelled by revenue growth and fulfillment cost reduction. This has been accompanied by a surge in customer NPS, a measurement of customer satisfaction, to 50 per cent,” the company said.
Read: Myntra’s Jabong: Then and now
The month of October also saw a hugely successful Big Brand Sale with the highest ever net revenue this year on weekdays and increase in average order value by 10 per cent.
“Jabong has witnessed a strong turnaround. I am delighted that revenue growth is back on track, margins are getting better and the customer experience has significantly improved. Synergies with Myntra as well as cross learnings between the companies have helped accelerate customer acquisition and better customer experience,” CEO, Jabong, Ananth Narayanan said.
The company has also witnessed an increase of 40 per cent in app installations while new customer base has been growing. The increase in new customers was propelled by the launch of the new festive campaign.
Jabong also saw the return of over 1300 marketplace sellers online. Two marquee brands of Myntra, “All About You” by Deepika Padukone and “Roadster” were also launched on the platform. Other new brands on the platform include Lee cooper Apparel, Blackberry’s, Indian Terrain, Biba Kids, Jealous 21, Indigo Nation, John miller, Scullers, Urban Yoga, Rig, etc

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