Any business idea works, at some level, on the principle of need and demand. While devising a product or service, the entrepreneur has to do a lot of research and market analysis. Sometimes the idea is put into practice and it works, while the risk of failure is real. Zivame was established in 2011 by Richa Kar. It is an e-commerce company dedicated to the fashion needs of a woman, particularly the things which are private and you don’t feel like asking for in a regular shop i.e. lingerie.
The venture was embraced by women in India and currently, there are about twenty-six retail stores along with over six hundred outlets already serving across all the pin codes in India. Dealing with brands, both national and international, Zivame has made an identity, and so has Richa Kar. This young lady has reshaped one crucial industry. Let’s find out her struggles and accomplishments in detail.
Personal Details / Wiki / Bio
|Date of birth||17 July 1980|
|Hobbies||Spark the passion to make dreams come true.|
|Graduation||Birla Institute of Technology and Science, Pilani
BE, CIVIL, 1998 – 2002
|Post Graduation||MBA from SVKM’s Narsee Monjee Institute of Management Studies (NMIMS)
2005 – 2007
|Husband||Kedar Gavane (married for about ten years)|
|Father||Worked in Tata Steel|
Residence Contact Details
Office Contact Details
|Office Address||73, 74, 4th Floor, Accord Road Patel, Krishna Reddy Colony, Domlur, Bengaluru, Karnataka 560071|
|Office Phone Number||0821 423 2000|
|Official Email IDemail@example.com|
Founder and CEO
|Work Experience||Consultant – Business Process (Retail)
Manager – Brand Communications
When Richa found that except for the major ten cities, the availability of branded innerwear was very limited and that Victoria’s secret got more than a quarter of its sale online, she immediately knew there was potential in this industry in Indian market waiting for being explored. She then performed research to find out the real challenges while buying lingerie. Physical distribution was not a possibility as that would need storage space and multiple outlets, which at initial level was not an idea worth investing in. She thus chose an online delivery mechanism for her idea. She clearly made a statement that it was never about e-commerce but devising a solution to this major problem of women.
Richa told in her interview that the sellers and buyers are both women here and thus when a woman is making a call to customer care they would talk a lot, thus helping bridge the gap further. Addressing the problems being faced, with sizes, fitting, brands and others have strengthened the system of Zivame.
The company started with seed money of $6,00,000 which she arranged through her family and friends. Later, when things started falling in place, she decided to raise an investment fund which she got from DG Ventures, Kalaari Capital and Unilazer Ventures. The amount was $9 million which she received in two rounds. Her clever decisions proved to be profitable and the company grew in size as well as monetary position. With more than two hundred members, Zivame is India’s leading online lingerie store selling more than fifty brands, hundred sizes and five thousand styles. They deliver everywhere in India with a single exception of Lakshwadeep islands. Zivame has even entered into physical distribution since then. She has a dream of making this company of hers a hundred crore worth of a venture.
Richa has stepped back from day-to-day operations of Zivame and has left the chair of CEO. Amisha Jain has joined the company in same effect.
Lesser known facts about
- Richa remains active on Twitter and holds the reputation of one of the most influential women entrepreneurs in India. Zivame is the first startup by Richa.
- She had to put her social life to a pause for two consecutive years to make her startup stand on its feet.
- Her mother found it to be shameful to discuss lingerie so openly.
- She was born in Jamshedpur and is always curious to learn about business operations.
- She named the company Zivame after a Hebrew word Ziva meaning brilliant or bright or the light of God.
- She came into contact with Lingerie industry while she was working at SAP and dealing with Victoria’s Secret as a product.
- Kapil Karekar who left the company in 2012 was the co-founder of Zivame who lent her 30 lac rupees for starting this venture.
- The first order by the company was received within five hours of launch.
- Vani Kola is Richa’s mentor. She firmly believes that to develop a good product mix, the entrepreneur must put herself in the buyer’s shoes.
- She was dating her husband before she decided to be an entrepreneur and when they decided to get married, she just took one day off. She took an off starting Friday, getting married on Saturday, to return to office on Monday.
Quotes by Richa Kar
|“I guess conviction in one’s belief is the greatest driver.”|
|“If you are strong, focused and passionate about what you want to do, everything falls in place.”|
|“Being able to fulfill a certain need is most gratifying. It’s gratifying but it’s never easy.”|