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Read More"Life is either a daring adventure or nothing at all."
This is a generic blog article you can use for adding blog content / subjects on your website. You can edit all of this text and replace it with anything you have to say on your blog.
Read MoreThis is a generic blog article you can use for adding blog content / subjects on your website. You can edit all of this text and replace it with anything you have to say on your blog.
Read MoreThis is a generic blog article you can use for adding blog content / subjects on your website. You can edit all of this text and replace it with anything you have to say on your blog.
Read MoreThis is a generic blog article you can use for adding blog content / subjects on your website. You can edit all of this text and replace it with anything you have to say on your blog.
Read MoreFounded by Richa Kar, Zivame will use the money to draw in more women to shop online.
Khazanah Nasional Berhad, the investment holding arm of the Government of Malaysia, and Zodius Technology Fund have actually invested Rs. 250 crore in Zivame, an online lingerie seller.
Existing financiers Unilazer, IDG Ventures and Kalaari Capital likewise took part in this third round of funding.
Founded by Richa Kar, Zivame will use the cash to draw in more females to shop online, strengthen its product and establish innovation. The Bengaluru-based company likewise announced the launch of a dedicated lingerie app.
"We are positive, restless and ambitious to build Zivame as the brand that is changing Indian women," said Richa Kar, Chief Executive Officer of Zivame. The Indian lady wishes to feel and look good and has the economic self-reliance to splurge on lingerie she never had access to previously, stated Ms. Kar.
An alumna of Birla Institute of Innovation and Science, Pilani, Ms. Kar co-founded Zivame in 2011 in addition to Kapil Karekar. When she discovered that American lingerie merchant Victoria's Secret made a quarter of its incomes through online sales, she understood the capacity for selling lingerie online.
The company said intimate wear in India is offered by males and pestered by poor inventory accessibility. Zivame stated it has re-imagined this classification and now offers more than one bra per minute. About 30 per cent of its profits come from towns and cities in the country.
The company has built a dedicated wing for development of lingerie based upon intensive research study on physique and way of lives of Indian ladies. It has a data sciences lab that mines concealed insights from big quantity of data to create and establish lingerie. About 60 percent of its income come from offering in-house items.
Investors stated that they are pleased with how Ms. Kar and her team are developing a powerful organisation by providing remarkable customer engagement and product choices to Indian ladies.
"Their ability to use technology to tailor the purchasing experience and offer world class personal label products is notable," stated Shilpa Kulkarni, managing director at Zodius Advisors.
Zivame is the first investment in India's flourishing e-commerce industry for Khazanah Nasional. About 60 percent of Zivame's traffic originates from mobile and this is anticipated to grow fast.
"Khazanah is very pleased to support Richa (Kar) and the Zivame team with driving their mission of women empowerment within and beyond India," said Chinta Bhagat, executive director for investments at Khazanah India Advisors.