Zivame, India’s largest e-tailer for Ligerie received an investment of USD 40 Million (INR 250 Crore) from multiple investors. The funding round led by khazanah nasional berhad and Zodius Capital, participating along with its existing investors IDG Ventures, Kalaari Capital and Unilazer Ventures.
Zivame earlier raised series A and B rounds of funding in Mar’12 and Dec’13 respectively.
Founded 4 years back in mid of 2011 by Richa Kar, is India’s largest online lingerie store featuring 5000 styles in 100 sizes from across 50 brands. and is trying to solving women’s lingerie and intimate wear problem with an awareness on best fit for woman undergarments since its inception.
Zivame is looking to close fiscal 2015 with Rs 50 crore in gross merchandise value on a loss of about Rs 35 crore. Zivame initially started out as an aggregator of lingerie brands like Enamor, Wonderbra, Jockey, and Amante. But since 2013, it started private label brands to make up for the restricted customer base. The company gets about 30% of its sales from its private label high-margin Penny and Cou Cou brands.
Founder and CEO Richa Kar said in a statement:
“The fresh funds will be used to raise awareness about the category and company, ramping up the technology platform, enhancing consumer experience on mobile phones as well as setting up fitting stores across the country,”
Company is getting a huge traffic through mobile, and so with this investment they have announced to invest in their Mobile App and get them to consumers very soon.
Zivame is currently competing with other online lingerie brands PrettySecrets which raised series A round last year in June from Orios Venture Partners and India Quotient, Clovia (earlier Cloe) funded by Mountains Partners and Ivycap Ventures, ButterCup, Laceandme and few other new players.
Founder: Richa Kar
Total Funding: USD 49 Million