His innovativeness is evident when you look at the name of his brainchild. Before registering the company, the Jabong team couldn’t sleep for nights. Praveen Sinha’s idea was to name the company something ‘meaningless’ so they could expand their operations in other avenues. They finally voted for ‘Jabong’, an evergreen plant that hints fertility and growth. A wise choice indeed!
The Duke of Jabong doesn’t keep all the resources to himself like Ebenezer Scrooge. You’ll see him offer consultation and mentorship to budding entrepreneurs and nouveau startups during weekends. A weekday in his professional life consists of a 14-hour shift. The work hours might startle you but Praveen Sinha knows how to loosen up from a hectic day. He could be consulting a start-up on a Monday and be on an unplanned trip to Goa on Tuesday. Watching movies and reading books are also some of his favorite pastimes.
So when did it all start? The story of Jabong began when he realized his entrepreneurial acumen in 2007 at Maruti Suzuki, his first job post graduation from Delhi College of Engineering. He needed to think about taking risks because of his family background. MBA gave him a failsafe just in case his ideas didn’t work out. With the moral support of his parents, he dribbled his dream very well to the goalpost. With the help of Lakshmi Potluri and Arun Chandra Mohan, Jabong came live in October, 2011.
Jabong grew into a fashion juggernaut by 2012. The company was shipping 6,000 to 7,000 products a day. Total sales around the world were recorded to be around $150 million. Under Praveen Sinha, Jabong witnessed a record-breaking revenue boost in 2013’s Great Online Shopping Festival. They left no stone unturned in media promotions. Their ingenious Bollywood tie-up collections like that of Yeh Jawani hai Diwani, Bhaag Milkha Bhaag, and Dhoom 3 connected well with the customers.
Customer experience is like Schrödinger’s cat, it is hard to predict what you’ll end up with. Praveen Sinha organized Jabong into a managed marketplace where 3rd party sellers can enlist their products. It guarantees capital efficiency and lets the ecommerce organization expand further. Jabong takes care of the marketing, logistics, and delivery. Apart from the managed workplace model, the inventory model enables the online shopping giant to source products directly from the brand, and store them in their own warehouse.
Jabong came under the umbrella of Global Fashion Group in 2015 to expand its operations. With GFG’s help, it’s facilitating an access to more international brands of various products. Jabong has retained its brand identity despite this move that many in the market would term ‘submissive’. The truth, however, favors Praveen Sinha’s resourceful thinking. The answer is right there as Jabong’s slogan- ‘Be You’.