Jabong & FabFurnish Sales / Profit Metrics

Jabong Sales MetricsIn an industry where not much data is available given most companies are unlisted, we have got some details from Rocket Internet which has stake in Jabong (fashion) & FabFurnish (furniture).

Jabong’s Gross Merchandise Value (GMV) rose 136% yoy in CY14 leading to a 136% yoy increase in net revenue. Encouragingly, Jabong indicated that majority of the orders are being placed by repeat customers. FabFurnish’s GMV too rose 125%yoy during the same period. Jabong’s gross loss expanded to Rs1.6bn (+400%yoy), indicating high competition. Capex intensity has risen from 3.7% capex/sales in CY13 to 4.8% in CY14 on investment in IT and infrastructure. Net working capital too rose by ~250%yoy driven by growth in inventory.

Jabong.Com Financials / Operations Metrics
Jabong_Financials

FabFurnish Financials / Operations Metrics
Fabfurnish_Metrics

Our findings from the report reinforce our view of the large & long-term opportunity in India Internet sector which is currently seeing high competition & needs investment.

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