Online lingerie site Zivame raises $6 million in a series B round led by Unilazer Ventures
Zivame.com, a Bangalore based online lingerie destination has received a Series B Funding Investment of $6 million. This round has been raised from Unilazer Ventures Private Limited, a strategic private equity investments company promoted by Ronnie Screwvala, and existing investors, IDG Ventures and Kalaari Capital Partners.Zivame is founded and led by Richa Kar, a BITS Pilani & NMIMS Alumnus and the primary reason to set-up Zivame.com was to give its consumers the much needed privacy and accessibility when shopping for intimatewear. Today, Zivame.com is helping an increasing number of wome to move from brick-and-mortar to the experience of online shopping.
With operations just a little over 2 years, the brand experiences over 50% repeat purchases every montha and During the 1st year of operations, the brand has witnessed a growth of 400% and is aiming at online sales of INR 1000 crore in the next 4-5 years.
“Zivame.com has acted as a catalyst and initiated the women to buy their most intimate and personal products on an online space. With every new customer, we believe that we have made the women shopper a lot more self-aware and taken away the painful social embarrassment that comes with shopping for lingerie in a public space. The Series-B round of funding gives us a chance to extend this support to a few more million women out there," says Richa.
The Series B round of funding will be utilised towards building the intimate-wear category and reaching out to women across the country. The funds will also be utilized to harness the power of technology to deliver a superior lingerie buying experience using personalization and recommendations
Some of the stats regarding Zivame:
- 40% of Zivame’s repeat buyers purchase lingerie 4 times a year.
- 60% of new customers have never bought lingerie online before.
- 20% of new customers have never made an online purchase before.
- Tier 2 and 3 sales and revenues clocked – In the 1st year, we had 15% buyers from Tier 2 & 3 cities. This number went up to 30% in the second year.
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