Zivame Lingerie raises expansion capital to expand in India
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Indian lingerie retailer Zivame has raised about US$8.6 million to fund expansion.
The funds were raised through Allana Investment and Trading Company, in a round led by existing investor Zodius Technology and individual investors.
The new capital will be used for store expansion, technology augmentation, product development and omnichannel strategy. Zivame now has more than 30 offline retail stores, and aims to expand to more than 60 in the next year.
“The funding will enable us to further enhance our footprint and leadership in existing and newer markets as we continue to build on our mission to be the destination for women for all her intimate needs,” said Amisha Jain, Zivame CEO.
“We continue to build the category as the Indian lingerie market is largely unorganised and under-served.”
The company plans to a larger fundraising round in coming months.
Founded in 2011 as a marketplace for lingerie brands, Zivame has expanded into fashion apparel, activewear, sleepwear, and shapewear as well as developed its private labels including Penny and Coucou.
Questions & Answers
Q.Who provided the funding for Zivame's latest expansion round?
Who provided the funding for Zivame's latest expansion round?
The recent funding round was led by existing investor Zodius Technology and included contributions from Allana Investment and Trading Company, as well as individual investors.
Q.What are Zivame's specific plans for using the newly raised capital?
What are Zivame's specific plans for using the newly raised capital?
The funds will be used to support store expansion, improve technology, develop new products, and enhance their omnichannel strategy across India. They aim to double their physical store count.
Q.How many retail stores does Zivame plan to open in the coming year?
How many retail stores does Zivame plan to open in the coming year?
Zivame currently operates over 30 physical stores and intends to expand this number to more than 60 within the next year. This is part of their broader expansion plan.
Q.When was Zivame founded and what was its original business model?
When was Zivame founded and what was its original business model?
Zivame was founded in 2011. It began as an online marketplace for lingerie brands before expanding its own product lines and diversifying into fashion apparel, activewear, and sleepwear.