The Rocket Internet-backed e-commerce holding company has provided $20m to help the fashion retailer carry on running for the next year.
E-commerce holding vehicle Global Fashion Group (GFG) has agreed to invest more than $20m in India-based online fashion retailer Jabong, the Economic Times reported on Wednesday.
Jabong sells footwear, apparel, jewellery and accessories for men, women and children. Although the platform’s traffic and sales have remained relatively high, it has continued to make losses and GFG’s funding would be used to keep it running over the next year.
The company was founded in 2012 by GFG, which was formed by…
