Online fashion portal Jabong aims to grow sales by at least 40 per cent in the next fiscal year, driven mainly by advertising, sales from newer brands and the introduction of private label brands owned by sister company Myntra.
The Flipkart-owned online fashion retailer is looking to touch key targets by the end of the year.
As per Myntra and Jabong CEO Ananth Narayanan they also want to get Ebitda profitability that is they want to see if (Jabong) can get to Ebitda-zero by December.
Thirdly, they want to drive growth through new customers, not just existing customers. The sales growth will mainly happen through three things: marketing, selection and private brands.
Meanwhile, Myntra’s private brands: Roadster, Dressberry and Anouk will be introduced on Jabong as well.
Narayanan insisted that the company has no plans to kill the Jabong brand, even though questions remain on whether there is a danger of Jabong getting cannibalized by Myntra.
Meanwhile Jabong has struck a partnership with leading iconic headwear brand New Era, available for men, women and children.