Levi Strauss in talks to hire Jabong’s CEO Sanjeev Mohanty
- Market volatility will rise in short-term as elections near: Rana Gupta
- Doing business in India: ‘Substance’ over ‘form’ in transfer pricing regime
- Hong Kong can be India’s gateway to China: Gautam Bambawale
- Jerome Powell moves to normalize US monetary policy
- Piramal Finance to invest Rs10,000 crore in hotel assets: MD Khushru Jijina
Bengaluru: Apparel firm Levi Strauss & Co. is in talks with Jabong chief executive Sanjeev Mohanty to lead its India business after managing director Sanjay Purohit quit to join Samara Capital in May, according to three people aware of the development.
Mohanty joined online fashion retailer Jabong as its chief executive and managing director in December and has been leading the charge of turning around the company that has lost significant market share to competitors like Myntra and Amazon.
Mint could not independently verify if Mohanty has accepted the offer.
Mohanty did not respond to Mint’s calls and e-mail queries. Levis did not immediately respond to an email seeking comments.
If Mohanty were to leave, it could impact Jabong’s investors, who have been trying to engineer a deal between Jabong and multiple e-commerce firms in the country.
Earlier this week, Mint reported that Jabong was in talks with Snapdeal and Aditya Birla Group’s Abof.com for a potential sale .
Jabong has been scouting for a buyer for about a year and the talks are led by co-owner Kinnevik AB’s chief executive Lorenzo Grabau.
Having matched larger rival Myntra in sales until early 2014, Jabong has ceded market share since, with Myntra’s parent Flipkart spending hundreds of crores of rupees on advertisements and discounts to lure customers.
Before joining Jabong, Mohanty was managing director at Benetton India for nearly 11 years.
Mohanty is a veteran with over 20 years of experience in the apparel business which includes stints in Levi’s India, Madura Garments and Benetton India.
Mohanty holds a degree in apparel marketing and merchandising, fashion and retail marketing from the National Institute of Fashion Technology.