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Zivame to expand offline, plans to break even in 12 months

04
Dec '19
Pic: Zivame
Pic: Zivame
Indian women’s lingerie e-tailer Zivame will set up 60 offline stores in metros and tier I cities over the next 12-18 months as it plans to strengthen its omni-channel presence in the segment. Actoserba, which runs Zivame, has reduced its losses from over ₹32 crore in fiscal 2017-18 to ₹19.56 crore in 2018-19 and aims to achieve break-even in 12 months.

With technology, data and innovation, the company is set for exponential growth over the next few years, Zivame chief executive officer Amisha Jain told a news agency.

She said the company is poised to witness over 75 per cent growth in the next few years.

The company's revenue from operations grew to ₹137.9 crore in fiscal 2018-19 from ₹86.6 crore in the previous fiscal. Its marketing expenses decreased by 18 per cent in 2018-19 compared to the last, while the total expenses increased by 1 per cent.

The app contribution for Zivame brand gross sales has increased from 50 per cent in 2017-18 to 65 per cent in 2018-19, Jain said. The online channel accounts for about 80 per cent of Zivame's business, while the remaining comes from offline retail.

To drive growth, the company is focussing on four areas—continuous product innovation, great consumer experience, omni-channel presence and its new brand identity, Jain said.

This year, the company unveiled a new brand identity with the tagline 'Love Yourself Inside Out'. This aligns with its vision of creating an exciting, modern and inclusive environment for women to discover and shop for their intimate wear needs.

Zivame, which counts Zodius Capital, Unilazer Ventures and Khazanah Nasional Bhd among its investors, is also looking at raising funds to the tune of $50 million in this fiscal.

This year, Zivame has raised ₹60 crore in funding as part of a bridge round, led by Zodius Technology Fund and a group of high net worth individuals, and ₹10 crore in an extended series C Round from Allana Investment and Trading Company.

In 2015, it had raised ₹250 crore in series C funding round from Zodius Technology Fund and Khazanah Nasional Bhd, the investment holding arm of the government of Malaysia and $6 million from Unilazer Ventures in 2013. Ratan Tata has also invested an undisclosed amount in the company.

Fibre2Fashion News Desk (DS)


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