In March 2012, one of India’s most interesting niche e-stores, Zivame, secured series A funding to help it grow. Now the lingerie e-tailer has a further investment, this time to the tune of $6 million.
Zivame’s newest injection of capital mostly comes from Unilazer Ventures, with some also coming from existing investors IDG Ventures and Kalaari Capital.
The specialist e-store – which sells lady’s sports clothing and bikinis in addition to underwear – is aiming at hitting Rs. 1,000 crore ($164 million) in annual sales turnover some time in the next four to five years, the team revealed today. That’d be guadruple its current revenue tally.
In a statement this afternoon, Zivame founder and CEO Richa Kar said the new funding “gives us a chance to extend this support to a few more million women out there.” No further details on its strategy were given. The company started in August 2011.
(Source: The Economic Times)
(Editing by Anh-Minh Do)