Bengaluru-based online lingerie retailer Zivame is back on its growth trajectory, riding on the omnichannel strategy.
According to Zivame’s regulatory filings with the Ministry of Corporate Affairs, the lingerie retailer has posted a revenue of ₹86.6 crores for FY18, marking a 63% jump from the previous year’s ₹52.97 crore.
While the revenue saw an upward tick, Zivame also managed to cut its losses by 44% to ₹32.1 crore in FY18, compared to ₹57.6 crore in FY17. The lingerie startup managed to cut its losses, even as the overall expenditure grew slightly from ₹117.8 crores in FY17 to ₹126.3 crore in FY18.
Zivame further saw its total income grow to ₹94.25 crore in FY18 from previous year’s ₹60.25 crore.
Founded by Richa Dar in 2011, Zivame offers a wide range of lingerie, across categories like bras, panties, nightwear, shapewear, and activewear through its platform.
While Zivame offers its products through its online platform, it has moved on to develop an omnichannel strategy, establishing 26 brand stores, as of March. It is further looking to expand its offline brand stores to 100 by FY19, setting aside ₹30-40 crore for the expansion.
Zivame has also a number of private labels, these in-house brands have helped the lingerie startup garner over 60% of its revenues.
The online lingerie retailer’s omnichannel strategy has been a key component for Zivame’s growth, turning it back onto the growth path. Zivame had witnessed a 15% drop in net revenue to Rs 52.9 crore in FY17, when its loss widened from the year before.
In May 2018, Zivame last raised an undisclosed amount of funds from Zodius Capital.
Zivame counts prominent investors like Kalaari Capital, Chiratae Ventures, and Ronnie Scewvala‘s Unilazer Ventures, among its backers.
Other players competing with Zivame in the online lingerie business include Clovia, Buttercups, Pretty Secrets, and Cilory, among others.