A lingerie startup that says it sells one bra per minute just raised $40 million
Zivame.com
So far, the strategy seems to be working; Zivame says it's selling one bra per minute.
Investors include Khazanah Nasional Berhad and Zodius Technology Fund, a fund owner by the Malaysian government, according to TechCrunch.
"We offer a shopping experience that's both private and convenient so even men can shop [for women] with ease," CEO and cofounder Richa Karthe wrote on Zivame's site.
In India, a lot of lingerie stores are staffed by men, which can make shopping for bras and underwear feel awkward.
"We want to empower women to shop for their most intimate wear in the most intimate environment - their mobiles," Karthe told Tech in Asia. Zivame currently receives more than 60 percent of its traffic from mobile devices.
Zivame.com boasts more 600 lingeries styles to choose from. Since launching, the company has also expanded to selling swim suits, nightwear, and sports attire.
Right now, the Zivame only operates online; it has no physical stores. But Karthe expects that to change soon.
Karthe told TechCrunch that the company could soon debut real "experience stores." Like Victoria's Secret, women may soon be able to request consultation and bra fittings.
Zivame expects to open 100 of these kinds of shops in India's top cities.
A number of lingerie startups have begun to go after Victoria's Secret. Adore Me is a U.S. based company with a similar strategy that's generating more than $16 million in revenue annually.
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- A millennial manager went viral after her Gen Z assistant picked up a work call while at the hair salon: 'Go off queen'
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings