Success Quotient is a weekly underline that appears each Friday on Firstpost, that looks during a heedfulness and joys en track to success for a conduct honcho – either a CEO, MD or an entrepreneur. The mainstay looks during a ideas that helped launch a company, a highs and lows.
Lingerie as a subject is banned in open for many in India. Richa Kar, 34, Founder and CEO, Zivame – an online slip tradesman – speaks to Firstpost about a hurdles she had to step aside to launch her venture, a hurdles she continues to face and her goals for a company.
Excerpts from a conversation:
What did we wish to do after appropriation an engineering degree?
After we finished engineering from BITS, Pilani in 2002, we worked in a IT attention for a brief period. During a march of my work we also started meditative about my subsequent step. we always had an desire towards bargain a approach businesses operate. we motionless to pursue my government studies in 2007 from Narsee Monjee Institute of Management Studies as we believed it would take me closer to my area of interest. we worked quickly with a sell and tech organisation for four-and-a-half years after my MBA.
How did we 0 in on a slip business?
As partial of my prior job, we was operative on an assignment to investigate a tellurian slip brand. That got me meditative about slip as a difficulty in India. we shortly realised that a patron knowledge in a difficulty is unequivocally bad in India. Right from unavailability of distance options to participation of masculine sales executives, each singular step of slip offered acted a bottleneck for a woman. This done me consider about starting a business in this sector.
What were a greeting from family and friends to a idea?
My mom was repelled during a idea. She said, Apne friends ko kya bolungi? Meri beti bra-panty bech rahin hai mechanism par? (What will we tell my friends? That my daughter is offered bras and panties online?). My father did not utterly know what accurately we wanted to do. However, after a initial startle got over, both of them were unequivocally encouraging. Of course, a initial days were filled with humorous reactions. we remember when we were looking for a place to set adult a business. we was in review with a landlord and was about to tell him that my business was online slip shopping, yet we paused for a second and pronounced that we would be handling in a space of online ‘apparels’, usually so that he does not change his mind about giving us a space!
I started Zivame in 2011 with Rs 35 lakhs from my assets and contributions from friends and family. After that, a initial turn of supports came from Kalaari Capital and IDG Ventures.
You have given afterwards perceived mixed rounds of appropriation and investors.
We have lifted around $48 million until now from marquee investors like Khazanah Nasional Berhad, Zodius Technology Fund, Unilazer Ventures, IDG Ventures India and Kalaari Capital. The supports have been essentially used to enhance business, rise new products, sinecure talent, debonair adult record and marketplace a products. The concentration has always been on upping a ante when it comes to charity a good patron experience. Funding has helped us pursue a private tag devise successfully. Today, a private labels Pen.ny and Cou Cou minister to around 60 percent of a revenues. We have also been means to stay forward on a record front being a initial actor in a nation to come adult with a dedicated slip app.
What does a name Zivame mean? What were a initial hurdles we faced? What are a hurdles now?
‘Ziva’ is a Hebrew word that means radiance. The word Zivame means ‘Radiant me’.
I consider a initial hurdles were some-more to do with a category. For example, incorporating a company, removing a remuneration gateway or renting bureau space! There is so many annoy compared with slip as a difficulty even today; people are not unequivocally OK to speak about it. Even today, a bland conflict is to mislay taboos surrounding a difficulty and get people to speak about it.
What have we been means to grasp with this ‘private’ attention on a online space?
Lingerie is a Rs 12,000 crore marketplace in India. While there are many players, we clearly possess a infancy of a marketplace in a online space. we consider it is a damaged patron knowledge in a difficulty that ails a industry. Lingerie as a difficulty is under-served in India. Retailers batch usually quick relocating sizes, while tail ends of sizes sojourn under-served. Sales crew usually pull sales, rather than providing conference on a right fit and style. This being a prolonged tail category, many shops do not keep a extensive brew of sizes and accumulation that a lady requires; while smaller shops have masculine salesmen creation it unequivocally formidable for a lady to communicate what she needs. For a lady it is utterly annoying to step into a slip store, and have a salesmen indicate her and say, ‘Madam, 34 B will fit you.’ It is intensely tough for women to benefit preparation and conference on a difficulty anywhere. It is to solve all these issues that Zivame was started.We have come to know that women are broke to accept slip during a work place or even in a corner family. This done us come adult with watchful packaging, so that no one solely a lady will know what she has received. If sole in any sell store, a products are during standard with general standards and quality, if not better.
You have a wise salon.
Yes, in Bangalore. We have lerned consultants here who assistance women find their right fit. All one needs to do is to book an appointment and travel into a bureau to learn ideal support and comfort in sum privacy. The commander wise loll during a bureau helped us realize that about 4 out of 5 women go wrong in anticipating their right fit. We devise to launch many some-more wise lounges in a subsequent 3 years opposite a country.
Your sales have risen five-fold in 4 years. What is your aim for a subsequent fiscal?
While a insinuate wear marketplace in India is flourishing during a rate of 15 percent year on year, we have witnessed a 300 percent year-on-year expansion in a revenues. This is a outcome of women increasingly offered online for lingerie. We sell one bra per notation while Shapwear as a difficulty has seen a 336 percent boost in a camber of one year. Around 60 percent of a revenues are from in-house brands. Around 30 percent of business comes from tier 2 and tier 3 cities. In terms of a apportion of products shipped, we have seen an boost from approximately dual lakhs in 2012 to 10 lakhs in 2015.
What are your skeleton for Zivame?
We consider a difficulty offers a good intensity and we have not even scratched a aspect yet. We wish to emanate a best slip offered knowledge for each Indian lady driven by record that inculcates a ability to sense their accurate needs and requirements. We are operative tough on a private labels, stuffing gaps and rising categories and styles that Indian business have never had entrance to so far.
Your business is evidently your passion. But do we have hobbies that we find time to pursue?
I like going to a sauna and soak in prohibited water. It calms me down. Holidays yet are not as many of a stress-buster as operative out. we try and make it for workouts about 3 or 4 times a week. we also like examination a array or a film on TV after work. It relaxes me and we know there is a universe over what we do.