Home >companies >people >Jabong ropes in Snapdeal’s Rahul Taneja as chief business officer

New Delhi: Online fashion retailer Jabong has hired Rahul Taneja as its chief business officer (CBO) as the company seeks to strengthen its marketplace model and revive its struggling business.

Taneja comes to Jabong from Snapdeal, where he was vice president and head-category management. Taneja joined Snapdeal a year ago; he was earlier with Philips India.

“I am very happy to have him on my leadership team. This now completes my leadership hiring which directly reports to me," said Sanjeev Mohanty, chief executive officer and managing director, Jabong, in an email.

Taneja will be responsible for category management, pricing, creative campaigns and brand marketing at Jabong.

The company did not have the position of a CBO until now. Explaining the reason behind the creation of the new position, Mohanty said, “It is to bring a sharp focus to profitable growth, grow the business using core category strengths instead of discounts as a lever, bring in consumer focus on growth categories and focus on building the brand."

The development comes at a time when the company is struggling to turn around its business and has witnessed a drop in its valuation.

In September 2014, Jabong was merged with four international online fashion businesses by its investors, Germany’s Rocket Internet and Swedish investment bank Kinnevik, to create a company called Global Fashion Group (GFG) that was worth €2.7 billion (around 21,600 crore).

Last July, GFG raised €150 million (about 1,060 crore) from Rocket Internet and Kinnevik, at a valuation of €3.1 billion. Last month however, it raised €300 million ($339 million) from Kinnevik and Rocket Internet at a valuation of €1 billion ($1.13 billion), a third of the previous valuation.

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