Online fashion firm Jabong expects to clock 40 per cent business growth in 2017-18 on account of expansion in product range, marketing investments and additional features in its mobile application.
“We believe we are not at good levels, but we will invest now this year in creating much higher awareness for ourselves on three growth pillars. This year, in 2017-18, we are expecting 40 per cent growth in business,” Chief Business Officer, Jabong, Rahul Taneja was quoted by PTI as saying.
According to a PTI report: He said that Jabong will invest in expanding range of products to give consumers more options to buy, make mobile application more engaging and invest in marketing to create more awareness among consumers about the brand.
“Today, we launched YWC Fashion of cricketer Yuvraj Singh. We have recently launched 25 brands including Viraat Kohli’s WROGN, Deepika Padukone’s All About You and many more. Soon we will add 35 more brands including Hrithik Roshan’s HRX,” Taneja was further quoted by PTI as saying.
The apparel category contribute around 45 per cent to the Jabong business, followed by footwear around 11-12 per cent.
Talking about competition mainly from established business houses like Reliance Jio’s Ajio fashion application and Aditya Birla group’s Abof, Taneja said that companies which will understand their consumers will win.
“When we started there were 300 online players in fashion category with different kind of models but now if you analyse there are only 25-28 players. It is a very attractive market but its not easy to operate in this market,” Taneja was quoted by PTI as saying.
He said that the company is not burning capitals any more and looking to EBIDTA break even (indicator of cash flow) by March 2018.
“We have already demonstrated we could be operationally profitable,” Taneja told PTI.
He said that company operates on the basis of campaigns and gets fund for executing the campaigns once they are finalised.
Cricketer Yuvraj Singh during the launch of his YWC Fashion products on Jabong was quoted by PTI as saying, “Social media has become very popular. Its easier to shop online. The world is evolving.”
He said that company is also working on offline strategy to sell YWC apparels and plans to open first retail stores in Delhi or Hyderabad during upcoming IPL season.