RICHA KAR - story of succesful women entrepreneur
Every startup is based on an idea that can either solve an existing problem or will enhance the already existing mechanism. The same ways Richa Kar also wanted to solve the issue of women buying lingerie and undergarments from shops in the market. That's how Richa kar’s Zivame came into the picture. With her bold step towards a successful venture, she was keen to ease the experience of undergarment shopping for women which offers a wide range of amatory clothing at Zivame.
Richa Kar is the Co-founder of Zivame. Zivame is a Bangalore based startup for women apparels. Richa founded Zivame in 2011 along with Kapil Karekar. Richa met Kapil through a common friend. kapil has an experince of over 10 years workign with companies like InMobi, ESPN and Yahoo!.
Richa Kar was born in Jamshedpur and hails from a very conventional family background. She completed her education from the reputed college of BITS Pilani. After completing her Studies, Richa worked in IT sector for a few years. After that, She proceeded to the Narsee Monji Institute of Management Studies (NSIMS) to complete her masters in 2007. She worked for Spencers and SAP retail consulting. While working for Spencers and SAP, Richa gained valuable retail experience that she carried to the start-up world. During her time at SAP, she found herself working with a comapny, which owns lingerie company Victoria’s Secret. She realized that lingerie shopping in India was more a bottleneck for women than and experience.That is when when Richa was thinking about the concept of online retailing of lingerie.
Kar borrowed Rs 30 lakh from friends and family to finance her new endeavor. She launched from a small office space on August 25th, 2011, receiving her first order 5 hours later. As the business grew, the company sought funding, raising $9 million in two rounds from investors including IDG Ventures, Kalaari Capital and Unilazer Ventures. Within three years of its launch, Zivame had grown from a small operation to a team of more than 200 members.
Zivame is an online lingerie store featuring hundreds of styles for the Indian woman. It is now India’s leading online lingerie store, offering more than 5,000 styles, 50 brands, and 100 sizes. Moreover, Zivame offers a wide range of products for women in three different categories including lingerie, activewear, and through its online and offline platforms.Other than various panty set, the site also has a collection of pajamas, boxers, housecoats, etc. All these come at very affordable rates which are super astonishing for the potential buyers.
Zivame, selling online and realizing 5 million visitors, out of which 1 million are unique visitors. Their consignments have reached all states with the exception of Lakshadweep. With E-commerce now becoming a fashionable business, clothing merchandise was the first to catch the online wave and Zivame has picked the right spot. Richa Kar felt that jumping onto the E-commerce bandwagon is only the first step to success, becoming the leader in the category is the objective
For an unparalleled customer experience, a healthy inventory is important and for maintaining a good inventory, cash in torrents is needed. Zivame did the right thing to scout for funding early on. In its funding endeavor, Richa met Vani Kola, founder of Indo-US Venture Partners. Vani showed tremendous alacrity. They took a decision and got back to her with a lot of confidence in her team talking about the first meeting.
Today Richa is known to be one of the most influential female entrepreneurs in India.