Zivame Funded to Grow Beyond E-commerce

October 28, 2015 written by
Richa-Kar-Founder-CEO-at-Zivame-addressing-the-audience-at-the-launch

zivame The four year old start up based in Bangalore foresees great potential in the Indian Lingerie market as it claims selling one bra per minute online. The Lingerie start up has revamped the way women buy their lingerie. Be it the privacy of online shopping or 600 lingerie styles available online, Zivame is
doing a rather amazing job in giving voice to lingerie as essential product. Richa, the company’s CEO, said the money it raised would be used to expand
the business by attracting more online shoppers, strengthening its merchandise and developing its technology.
Going further with the quest, Zivame has notably raised funding of $40 Million for expansion into brick and mortar lingerie store. The investors are  named as Khazanah Nasional Berhad and Zodius Technology Fund, a fund owner by the Malaysian government. Richa Kar the, the CEO and co-founder  of Zivame wrote on the website “We offer a shopping experience that’s both private and convenient so even men can shop [for women] with ease,”. She  adds “We want to empower women to shop for their most intimate wear in the most intimate environment – their mobiles,”. The firm generates 60% of its profit form Zivame website visits on mobile devices. This has lead to the idea of developing a Zivame app.Zivame_Coffee Following a reverse suit to other lingerie startup, Zivame wishes to instil the real store experience for its wide spread online customers. Zivame’s future plan has a lucrative edge as the sale in brick and mortar stores of Zivame would be driven viral owing to the ongoing popularity of the e-retailer amongst the crowd. “Our experience stores are aimed at enhancing the consumer connection. Customers can walk in and have a personalised experience to get their size, become aware of their bust shape, and know the kind of products that they could buy. We won’t be selling there, but visitors can place an order if they wish,” said Ms.Richa Kar the. Zivame expects to open 100 of these kinds of shops in top Indian cities. Chinta Bhagat - Khazana IndiaKhazanah India Advisors Pvt. Ltd executive Director of investment Chinta Bhagat said focus will be on helping the online retailer build up their “institutional capabilities”.”With Khazanah coming on board, Zivame’s funding needs are expected to be fully secure for the foreseeable future, and the focus will be on supporting them in building their institutional capabilities in the coming years,” said Mr. Chinta Bhagat, Executive Director of investment at Khazanah India Advisors Pvt. Ltd.”It is one of our investments in the technology and consumer sectors in India” adds a spoksperson from Khazanah.

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