Gurgaon based e-commerce player Jabong has announced that January 2016 has been the best month in terms of performance since its launch in 2011.
Jade eServices which runs Jabong in India, registered the highest-ever month-on-month (M-o-M) growth of nearly 35% in its net revenue for January 2016. The traffic to the Jabong app has also grown by 20% in January.
Jabong CEO & MD, Sanjeev Mohanty, said, “With the lowest cash burn in the last 24 months despite the sale period, we are now targeting to be India’s first e-commerce company to break even without compromising on our top line. Some players in the industry hide their real performance behind the veils of lofty GMV figures. In those terms too, we touched $66m in GMV in January itself positioning us as the largest fashion e commerce company in India, with a robust growth of 56% in our gross orders and 59% in gross items. At this rate, we will be within striking range of the $1 billion GMV mark by our year-end.”
Filings submitted with the Registrar of Companies show that Jabong’s growth in 2014-2015 was at 98%, which is nearly 20% more than its closest rival, claims the company. Jabong’s losses had shrunk to 40% lesser than theirs comparatively.