Online fashion marketplace Jabong has made two key appointments, including that of an executive from e-commerce major Snapdeal, as it looks to regain lost ground in the booming online retail market in India.
The company has roped in Ranjan Kant from Snapdeal as its Chief Marketplace Officer, while Kalyan Kumar Gunasekaran from Lifestyle will join as Chief Merchandising Officer. The company spokesperson confirmed the development.
While Jabong has faced issues like senior-level exits, erosion in market share, mounting losses as well as speculations of a possible sell-out over the past months, a new team under Nils Chrestin (CFO at GFG) has been working on turning around the company. Last month, Sanjeev Mohanty took over as Jabong's CEO and Managing Director.
Jabong, apart from players like Amazon and Snapdeal, also competes with Myntra (a part of Flipkart) in the online apparel category. In 2014, 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 (Global Fashion Group).
Kant who joined Snapdeal in January last year as Head of Strategy, has also worked with The Furniture Republic, Sharda Exports and Boston Consulting Group.
"Ranjan's insights of the consumer behaviour and proven track record of taking businesses to higher level will surely be a value addition to Jabong," Mohanty said. He added that Kant will add a new and interesting perspective to Jabong's consumer initiatives.
"Kalyan brings intense experience in the merchandising function managing a large and diverse portfolio. With more than 18 years of experience, he will have the key responsibility to build our existing portfolio and build existing and new international and national brand relationships," he further said.