Online fashion retailer Jabong has appointed former Benetton India MD Sanjeev Mohanty as its chief executive officer (CEO) and managing director (MD). Mohanty will take charge from December 2015.
With his appointment, perhaps for the first time, Indian e-commerce would witness a chief executive from a traditional retailer heading an online venture in India. Jabong has been making headlines owing to an exodus of senior management and continuous erosion of market share.
He headed the Italian clothing brand Benetton to new heights in India and now Jabong has netted a winner in Sanjeev Mohanty as the new CEO for the ecommerce company to take on the rivals in the highly competitive e tail business. A go getter, Mohanty is expected to replicate the turnaround story like he did with Benetton in India.
Mohanty left Benetton after spearheading the Indian unit for 11 years, during which he made the Italian giant the largest international fashion brand in the country. Benetton India reported retail sales of about Rs 2,000 crore last fiscal.
Romain Voog, CEO of Jabong’s parent company Global Fashion Group (GFG), said in an emailed statement, “Sanjeev brings unparalleled domain knowledge of the Indian fashion and retail industries spanning over two decades, as well as a solid track record of transforming businesses to achieve rapid growth and profitability. This, along with continued commitment from GFG’s shareholders, will help strengthen Jabong’s position as India’s leading fashion destination.”
On his appointment, Mohanty said, “Online commerce is reshaping the Indian consumer’s shopping habits and I am delighted to have the opportunity to spearhead an industry leader.”