Zivame, a 4-year-old startup based in Bangalore, India, just raised more than $40 million to change the way women buy underwear online. So far, the strategy seems to be working; Zivame says it’s selling one bra per minute.
Investors include Khazanah Nasional Berhad and Zodius Technology Fund, a fund owner by the Malaysian government, according to TechCrunch. “We offer a shopping experience that’s both private and convenient so even men can shop [for women] with ease,” CEO and cofounder Richa Karthe wrote on Zivame’s site.
In India, a lot of lingerie stores are staffed by men, which can make shopping for bras and underwear feel awkward. “We want to empower women to shop for their most intimate wear in the most intimate environment—their mobiles,” Karthe told Tech in Asia. Zivame currently receives more than 60 percent of its traffic from mobile devices.
Karthe told TechCrunch that the company could soon debut real “experience stores.” Like Victoria’s Secret, women may soon be able to request consultation and bra fittings. Zivame expects to open 100 of these kinds of shops in India’s top cities.
A number of lingerie startups have begun to go after Victoria’s Secret. Adore Me is a U.S.-based company with a similar strategy that’s generating more than $16 million in revenue annually.
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