March 14, 2012
Bangalore, March 14, 2012: Zivame.com, India’s premium online lingerie store, announced series A funding from IDG Ventures and Indo-US Venture Partners.
Zivame was conceptualized understanding the current market landscape and consumer pain – points in lingerie. The lingerie segment is the highest growth category in women’s apparel and yet there are very obvious consumer pain points. Zivame conducted a consumer research to understand this and found out some startling facts. Women find it difficult to get their perfect sizes, have access to very limited styles to choose from and the sheer displeasure of buying it from an uninterested or pushy sales girl/boy makes the shopping experience very squeamish.
Team Zivame believes that the reach of Internet can help every woman shop for lingerie is the most convenient way. For the first time, international brands like Jockey and Triumph have partnered with Zivame to retail their merchandise online. Zivame ensures sizes are available for every woman all round the year. There is a vast selection of products and more importantly a consultative to choose a product based on need or event. The one of a kind fitting room section at Zivame is a unique feature, enabling women shoppers to gather information and education about wearing the right lingerie.
Zivame.com today makes it possible for every Indian consumer to buy intimate wear online in the most convenient way as it is covering all the pin codes in the country. It hosts more than 12000 SKUs from domestic and international brands like Jockey, Triumph, Amante, Enamor, Bwitch, Inaya, Hanes, Hollywood Fashion Secrets, Lovable and many more.
“Zivame ensures that you can sit back and browse for your lingerie needs in your own time and space. We believe that every woman has a right to the perfect fit, regardless of her size and age and we do this by offering the widest range of sizes at the portal. From sizes A –E cups; price range from Rs 200 to Rs 3000; and from the choicest assortment of beginner bras to full figure bras, Zivame caters to the needs of each and every woman in India. Our USP is a consultative approach to modern retailing.” Says CEO Richa Kar, www.zivame.com.
Bangalore based Zivame started operations in August 2011 and in the 6 months of operation it saw an overwhelming response from the customers by seeing 120% month-on-month growth. Visitors grew from a mere 6000 in August to over 2.5 lakhs in February.
“Today online platform enables users to shop without any inhibitions; our plan is to simplify the process of shopping with technology as an enabler. All our consumer touch-points should give a seamless and consistent experience of shopping” said Kapil Karekar, CTO and co-founder Zivame.
According to T.C Meenakshisundaram, Managing Director, IDG Ventures India Advisors, “Zivame is a leader in the category of lingerie which lends itself extremely well to ecommerce. This category has many successful companies globally. Zivame has one of the best team comprising varied experience in retail, technology and strategy. We believe that Zivame will be able to extend its lead significantly with this capital raise.”
Talking about the funding Richa says, “In a highly dynamic industry, it’s very important to find the right investors. In the lingerie industry the most important word is “fit”, and we have found ours in IDG and Indo US. The last few months of our business we have made lingerie from an optional part of a woman’s wardrobe to a necessity and even indulgence. We have served several happy customers across the length and breadth of the country. This has also been possible with a more involved support from our brand partners. The funds will be utilized towards providing top notch customer experience and making many more brands and product available for our customers, scaling our technology and operations and to create many more consumer touch points. Our vision is to reach out to every Indian woman in India and ensure that her most intimate purchase is a joyful experience”
Vani Kola, Managing Partner, Indo US venture Partners says, “Zivame is clearly differentiated in its offering. The focus on content and consultation is unique to the industry. It is exciting to have Zivame in our portfolio of companies.”
About IDG Ventures India (www.idgvcindia.com)
IDG Ventures India is a $150 million leading technology venture capital fund in India. The fund is part of IDG Ventures, a global network of technology venture funds with over $4.5 billion under management with over 220 investee companies and 10 offices across Asia and North America. By combining the IDG platform — an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources — with years of hands-on experience in early-stage company building, IDG Ventures India helps its investee companies understand their markets better and achieve leadership position ahead of competition. Leading technology companies that IDG Ventures has invested in include Baidu, Ctrip, Sohu, Tencent and VinaGame in Asia and Netscape, BabyCenter, F5 Networks, Service Metrics and VA Linux in North America. The IDG Ventures India portfolio companies are Agile FT, Apalya, Aujas Networks, ConnectM, eShakti, Firstcry.com, iCreate, iProf, iViZ, Kreeda Games, Manthan Systems, Myntra, Ozone Media, Perfint, Sourcebits, Vserv and 3DSoC.
For IDG Ventures India queries, please contact:
About Zivame (www.zivame.com)
Zivame is India’s largest online lingerie only store. Retailing premium and super-premium brands, Zivame provides a complete lingerie shopping solution. We pride ourselves with a collection of lingerie suited to the needs of every Indian woman complete with world class styling
For Zivame queries, please contact:
Shivani Bali / Pawan Hora
+91 9971843743 / +91 9891333258