Mohanty is a veteran retailer and apparel executive who has held roles with a number of global brands over the span of his career, including e-commerce conglomerate Global Fashion Group, fashion and lifestyle retailing company the Jay Gee Group, and the Benetton Group.
Online fashion retailer Jabong, which is reportedly on block for sale, today said it expects to clock 20-30 percent growth in sales this year as it charts a turnaround in business.
While the German tech startup investor Rocket Internet will underwrite around 100 million euros (about Rs 760.7 crore) of the financing, it will invest around 85 million euros (about Rs 646.7 crore), including the conversion of an existing investment at the terms of the financing.