Praveen Sinha co-founded lifestyle and fashion eCommerce platform Jabong in 2011. Within months of its launch, the platform became one of the most popular online shopping stops for youngsters. As the managing director of the startup, Praveen Sinha handled multiple crucial operations of Jabong, including supply chain management, finance, marketing, and human resource development.
What made Jabong’s business model dynamic and unique in its own sense was that it followed both – inventory as well as managed marketplace business models. Praveen was also instrumental in setting up an independent logistic operation known as GOJaVAS which made it one of the fastest product delivering firms in India. While all the other eCommerce platforms were largely sticking to the internet for marketing, Jabong launched its first TV campaign in March 2012.
Unlike its competitors, Jabong entered into a partnership with some of the top-notch brands, including Puma and Dorothy Perkins. It also collaborated with leading fashion designers such as Rohit Bal. Owing to such strong marketing and business skills, Jabong witnessed a multi-fold increase in its revenue to INR 527 crore in FY2013-14 from INR 4 crore in FY 2011-12.
Alongside, the user-friendly policies of Jabong such as open box delivery, 30-days return policy, and cash on delivery made the platform popular amongst the people. While other eCommerce platforms were busy offering heavy discounts, Jabong focussed on fashion curation and offering variety to the consumers, which became the secret of its strong customer base.
Starting from scratch, Jabong emerged as an institution worth millions in the eCommerce industry, within a few years of its establishment. In 2016, it was acquired by Flipkart thought its subsidiary Myntra. Post exiting the business successfully, Praveen Sinha forayed into the financial services market through RBI registered NBFC PinCap.