Online lingerie retailer Zivame may open 50 offline stores by March ’17

By: | Updated: July 8, 2016 7:19 AM

Backed by marquee investors like IDG Ventures and Kalaari Capital, it had raised Rs 250 crore in July 2015 from Zodius Technology Fund, Khazanah Nasional Berhad and others.

zivame-reu-LThe company, founded in late 2011, claims that 75-80% of its revenue comes from its private-label products, which has grown 30% year-on-year. (Reuters)

Much on the lines of e-tailers like Lenskart, Pepperfry and Firstcry, Bengaluru-based online lingerie retailer Zivame is looking to expand its physical presence with plans to open 40-50 brick-and-mortar stores by the end of this fiscal at a cost of Rs 40 crore. Zivame had opened its first offline store in Bengaluru in December last year.

Backed by marquee investors like IDG Ventures and Kalaari Capital, it had raised Rs 250 crore in July 2015 from Zodius Technology Fund, Khazanah Nasional Berhad and others.

Speaking to FE, Richa Kar, founder and CEO of Zivame, said, “By March 2017, we plan to open at least 40-50 offline retail stores in a phased manner and to spend about R40 crore for this. The stores would mainly focus on enhancing customer experience and creating a bigger brand image for Zivame.”

The company, founded in late 2011, claims that 75-80% of its revenue comes from its private-label products, which has grown 30% year-on-year.

“We see private labels not just from the unit-economics perspective (where the margin are higher), but as a way to build our brand in the market. Popular brands on our platform are not intimidated by our private-label growth,” Kar said.

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