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German Co to close down and revive in India

Wed, Jan 27, 2016, 01:37 PM
German Rocket Internet company has decided to close down its operations in that country and enter India in a joint venture.

The German company that sells furniture online through its Fab Furnish claims its furniture business may not do well in India. So it has decided upon a joint venture in some other sector in India.

Rocket Internet's other venture is Print Venue.

The German firm's Indian partner Jabong is also not doing well. So it is looking for yet another partner.

A spokesman for the company, who did not want his name publicised, said plans to revive the company in Germany had failed. Fab Furnish is to close down by March.

The company had laid off 25% employees last August. The company's continuance became questionable at that time itself.
Agency: Ap7am Desk

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