Jabong’s Chief Marketing Officer Saurabh Srivastava has quit less than 5 months after joining the company. Srivastava had joined Jabong in October last year, and had replaced Praveen Sinha, one of Jabong’s co-founders, who had quit to start his own venture.
“As a company policy, we do not comment on individual departures,” said Sanjeev Mohanty, CEO & MD, Jabong. “We are focused on building an experienced and professional management team that can help turn Jabong into India’s first profitable ecommerce venture.”
Jabong has seen a large amount of management churn over the years. In 2014, two of its cofounders, Manu Jain and Mukul Bafana, had left the company. Last year, its other co-founders, CEO Arun Chandra Mohan and MD Praveen Sinha had also quit.
Jabong has had a tough quarter as it battles other e-commerce players for a slice of India’s fashion e-retail pie. Myntra, its biggest competitor from 2 years ago, now has the financial muscle of Flipkart behind it, and several other players have also stepped into the fray. There were reports that Jabong was looking to be acquired by a bigger e-commerce player, such as Amazon, but those deals never materialized.
Jabong’s parent company, Rocket Internet, is also having a tough time with its India portfolio, and there have been reports that it’s looking to exit the country.