Companies

Zivame raises ₹60 crore as part of its Series C extension

Our Bureau Bengaluru | Updated on April 02, 2019 Published on April 02, 2019

To double store count to 60 and become profitable this fiscal

Omni-channel lingerie start-up Zivame has raised ₹60 crore as part of its Series C extension. The Series C funding of $40 million raised in September 2015 was led by Zodius Technology Fund and a group of HNIs. Including this, the start-up has mopped up $57.6 million to date.

The funding will be used for ongoing and future retail expansion, augmentation of technology, product development and strengthening its omnichannel strategy. Zivame plans to raise a larger round later in 2019.

“Our vision is to be the destination for women’s intimate wear needs including lingerie, sleepwear, shapewear and activewear. Although digital is in our DNA with 80 per cent of our business coming from online, we are providing an omnichannel experience with our products available in 35 company owned stores in Tier 1 cities, over 800 Mom n Pop hosiery stores, large format stores like Shoppers Stop, and are available on popular marketplaces as well,” Amisha Jain, CEO of Zivame, told BusinessLine.

The start-up is also exploring channels like social commerce sites including Snapchat, Instagram and Facebook; and is evaluating the MLM (multi-level marketing) channel as well.

In FY2017, Zivame’s losses at ₹57.6 crore were higher than its revenue which was ₹52.9 crore. However, in FY2018, its revenue grew to ₹86.6 crore while losses fell sharply to ₹32.1 crore as per RoC filings. The start-up plans to double its store count to 60 and expects to become profitable by the fiscal-end while continuing to focus on Tier-1 cities.

Zivame was founded in 2011 with the vision to facilitate women to shop without inhibitions for intimate wear. The start-up offers over 3,000 exclusive designs and over 100 sizes catering to women across all body types.

Published on April 02, 2019
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