Online fashion marketplace Jabong has formally announced the appointment of former Benetton India head Sanjeev Mohanty as its CEO and Managing Director. Mohanty, whose appointment is effective early December this year, has over 20 years of experience in the fashion industry.
Indiaretailing reported on Friday about Mohanty’s exit from Benetton Group. Michel Lhoste, International Business Director, Benetton Group will assume the role of interim CEO at Benetton India.
Read: Sanjeev Mohanty quits Benetton India, Michel Lhoste to be interim CEO
Prior to Jabong, Mohanty has worked with Benetton India for over 11 years, including eight years as Managing Director. Mohanty will play a crucial role in reviving Jabong’s business that has lost ground to rivals like Flipkart, Myntra and Amazon India.
“His strong leadership skills and deep understanding of fashion and the Indian consumer, coupled with the continued commitment from GFG’s shareholders, will allow Jabong to further strengthen its position as the leading online fashion destination in India,” Global Fashion Group (parent company of Jabong) CEO Romain Voog said.
The company also recently appointed Saurabh Srivastava as its chief marketing officer (CMO).
Last year, Jabong investors — Investment AB Kinnevik and Rocket Internet AG — had merged the Indian online fashion retailer with four other firms to create a new global fashion e-commerce group, GFG.
GFG has raised about USD1.5 billion (roughly Rs 9,810 crore) in capital since 2011.
“There could be no better opportunity than Jabong given its scale and consumer brand recognition… we have identified a number of growth drivers that will allow us to deliver an unparallelled experience to delight our customers and suppliers,” Mohanty said.
Lorenzo Grabau, Chairman of GFG and CEO of Investment AB Kinnevik said India is a hugely exciting market. “GFG’s shareholders and management remain committed to building Jabong to the benefit of its customers, employees and partners. We look forward to supporting Sanjeev as the company starts a new chapter this Diwali,” he added.
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
Must Read
