In a society where discussing lingerie openly was considered taboo, Richa Kar, the founder of Zivame, broke the barriers and created a platform that transformed the lingerie shopping experience in India. With a vision to provide women with dignity, privacy, and a wide range of options, Kar’s entrepreneurial journey has been nothing short of inspirational.
The Birth of Zivame: A Vision for Change
Richa Kar’s journey began with a realization of the discomfort women faced while shopping for lingerie in India. Limited knowledge among salesmen and the lack of privacy led to compromises in size and fit. Inspired by her experience working with Victoria’s Secret, Kar conceptualized an e-commerce platform that would empower women to make informed choices and prioritize their preferences.
Early life
Born on July 17, 1980, in Jamshedpur, India, Richa Kar hails from a traditional family. At present, she is 42 years old and her hometown is Northville, Michigan in the United States. Kar completed her post-graduate diploma from SVKM’s Narsee Monjee Institute of Management Studies (NMIMS) in 2007. Initially, she worked in the IT field for a few years after obtaining her degree. Later in 2007, she earned a master’s degree from the esteemed Narsee Monjee Institute of Management Studies (NMIMS). Kar acquired valuable skills working for companies like Spencers and SAP retail consultancy.
Kar’s leadership
Zivame, meaning ‘radiant me’ in Hebrew, was launched in 2011 as an online platform to provide women with a comfortable and private shopping experience. With a staggering collection of 5,000 designs, 50 brands, and 100 sizes, Zivame quickly gained popularity among Indian women seeking lingerie that catered to their specific needs.
While initially focused on lingerie, Zivame soon diversified its offerings to include women’s clothing, fitness wear, and sleepwear. Kar’s attention to product mix decisions, considering factors like price, quality, and customer feedback, helped build trust and confidence among buyers. Zivame’s commitment to excellent customer service further cemented its position in the market.
With Zivame’s online platform gaining popularity, Kar decided to expand her business by setting up physical stores. In 2016, she launched Zivame Studios, offering a seamless omni-channel experience to customers. This move enabled Zivame to reach customers in tier 2 and tier 3 cities across India.
Overcoming Cultural Barriers
Richa Kar faced immense opposition from her family and society due to the cultural stigma surrounding lingerie. However, her determination and belief in her vision propelled her forward. She focused on developing in-house brands, personally overseeing the design, manufacture, and supply of the innerwear.
Despite facing criticism and initial challenges, Zivame’s unique concept garnered attention from investors. In May 2012, Richa Kar secured her first funding of $3 million, followed by $6 million in December 2013, and a significant funding round of $40 million in 2015. Today, Zivame boasts a valuation of more than Rs. 681 crores
Reliance acquisition
Zivame was aquired by Reliance retail in 2020
Net worth
Despite stepping down as CEO in 2017, Richa Kar maintains her position on the board of directors and has retained her equity in Zivame. According to the Economic Times, her net value stands at Rs 749 crore.
Richa Kar’s entrepreneurial journey with Zivame is a testament to her resilience, determination, and ability to challenge societal norms. Through her innovative approach, she has transformed the lingerie shopping experience for women in India, earning recognition and success in the process. As Zivame continues to thrive and expand, Richa Kar serves as an inspiration for aspiring entrepreneurs, proving that with passion, dedication, and the courage to break barriers, one can overcome any obstacle and achieve remarkable success