Arun Chandra Mohan, CEO and founder of Jabong, recently announced the latest collection, designed by actor Alia Bhatt for the fashion portal. At the event, he shared his opinion that the ecommerce industry is valued right, answering a question if Flipkart had been over valued at $7 billion recently.
“We, as an industry, are providing a very important platform where consumers are able to access products, which they would not be able to otherwise. Think about all the tier-2 and 3 cities in particular. Add to that, there’s not much physical retail going on at the moment across the country and brick and mortar is going nowhere either. E-commerce as a business model has now proven itself. People are accessing sites from phones and tablets too so no one can tell me that the valuations are too high. I believe the valuation of my company is going to be significant. We are going to be a billion dollar business,” he said.
While it was about fixing glitches and ensuring a smooth run earlier, now the challenge in running a fashion portal is improvement. Improvements or add-ons to the overall strategy every now and then are of utmost importance in ensuring a smooth structure and hassle-free operations.
Adding that getting the right talent is also crucial, Arun said, “”I look for a couple of qualities. Functional capabilities are important too, but for me the most important thing in an employee is drive. There needs to be a larger goal and I need to see that the employee is thinking of their role as much more than a job. Trust me, I reject most candidates based on the lack of drive… and it doesn’t take a lot of effort to notice it. Second quality is intelligence.”
“E-commerce is a new industry and so is our company. I don’t necessarily need people with 20-30 years of experience… I don’t value that so much. I’d rather go with people with just about enough experience but who are capable of learning quickly. Of course, they all need to be team players and have a positive attitude,” added Arun.