E-commerce fashion company Jabong has got an additional fund of $20 million from Global Fashion Group (GFG).
The e-commerce company is currently running in losses though the company had recently stated that its growth in 2014-2015 was at 98%, which is nearly 20% more than its closest rival.
“GFG has raised over $1.5 billion in capital in its history and its Board remains unanimously committed to all regions it operates in, including India. Jabong has made a number of recent senior management hires and has also recently witnessed record operating performance. These facts, which are supported by public filings on our current investment rate, are clearly evident of GFG’s commitment to growing Jabong,” Jabong said in the email to ET.
