In Indian Society, many girls do not have the freedom to do something beyond their studies. Some exceptionally strong women are fighting against this scenario and achieving their dreams. Here is the story of one such Women Entrepreneur– Richa Kar, the owner of an online lingerie brand Zivame. The entrepreneurial journey of Richa Kar wasn’t smooth from the beginning as she gets opposed by her parents. Her mother was embarrassed about her idea of selling lingerie. On the other side, the father of Richa Kar didn’t get the concept of selling lingerie online. Still, Richa was determined enough towards her goal, and by her hard work and determination, she builds the company Zivame of worth more than Rs. 681 Cr.
“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.” – Richa Kar
The company had raised $9 million from various big names in the industry like IDG Ventures India, Kalaari Capital, and Unilazer Ventures till now. Zivame counts Ratan Tata as an investor and now we all know that this is huge! Zivame is India’s largest online lingerie store that offers a huge variety to Indian women including 5,000 styles, 50 brands, and 100 sizes with a valuation of $100 million.
Early years of Richa Kar
Richa Kar was born in Jamshedpur and comes from a mainstream Indian conservative family. Richa worked in the IT sector for a few years after the completion of her studies. Richa pursued a Master’s degree from the renowned Narsee Monjee Institute of Management Studies (NSIMS) in the year 2007. Richa at that time was working for Spencers and SAP retail consulting after graduating from NMIMS. Richa had developed an association with Spencers and SAP which helped her a lot, she could gain valuable retail experience that later helped her in her startup journey.
One of her clients at SAP was in some way related to Victoria’s Secret. Richa’s communications and the experience of working with that client made Richa realize the distressing reality of lingerie shopping in India. Richa thought a lot over the idea of an online retail store for the same. Before stepping up in the startup world, Richa had a secure job and career. She was an engineering graduate from BITS Pilani and also gained job security as she had a corporate job in Bangalore. Richa then completed her MBA and started working with Spencers Retail and SAP as a retail consultant where she gained a lot of knowledge about the retail sector. She chanced upon the idea in March 2011 and by April she was serving her notice period at SAP. She utilized this time to visit retail outlets like Lifestyle and Shoppers Stop to understand the way this category was sold offline, how she could improve the experience and which brands she should stock on. By May, Kar had managed to get big names like Triumph and Jockey on board.
Initial struggle and Richa’s devoted research
The idea of Zivame popped up in her mind when she was working at SAP; Richa tracked the online sales of Victoria’s Secret which is America’s largest retail company of women’s lingerie. She noticed that the sales figures crossed the target, but in India, there was no such market for Indian Women. After working for 8 years with dedication in the retail sector, Richa Kar got a fair knowledge of that sector and decided to start something of her own.
However, convincing the payment gateway guys wasn’t as smooth, given that her product brief clearly talked about lingerie and accessories, which resulted in long delays to secure the required permissions. As for other business realities, Kar dealt with them in her own way. “I would often ask my boyfriend to come along when I went to meet people. I didn’t want it to look like it is just a one-man army, but a big company,” she recalls. And that was a goal that Kar was very clear about from the time she founded Zivame. She recounts how not asking her parents to financially support her, was another clause that she imposed on herself very early on.
One of the other things that Kar followed was a hands-on approach from day one. While the site was developed with the help of friends who designed it for free, the task of listing every merchandise on the new website was her job. When her receptionist, who was one of the handfuls of people employed then, quit, Kar didn’t shy from taking phone calls. “Her name was Sindhu and after she left, I would take calls under her name. I couldn’t tell the other person that this was Richa Kar, the founder, because that would have been odd,” she laughs.
To get a deeper insight into the lingerie business, she visited various malls and shops and observed that women feel shy about buying lingerie offline at stores, as shopkeepers in such shops are male who cannot give fitting and styling tips. Keeping all these points in mind, Richa came up with the name “Ziva” for her idea which means Radiance in Hebrew. But since that name was not available so she settled with Zivame, which means Radiant Me. She launched the brand in 2011, with all her savings and Rs. 35 lakhs which she borrowed from her friends.
Richa quotes, “If you are strong, focused, and passionate about what you want to do, everything falls in place”. This was her life motto and this has aided her significantly in paving her path towards success.
During her initial days, she faced rejections and a lot of condemnations. People were making fun of her endeavor. Finding a place on the rent was a major issue for when her landlord asked what she was doing she had to tell them she sold clothes online.
Turning Point
Despite all these issues Richa Kar never gave up. Her determination and passion helped her in establishing her brand. With her never-give-up attitude, she kept trying and lastly, after some time, Zivame got a good response from its buyers.
Richa got her first client from Indore who was trying to buy materials from her worth Rs.7000. She finally made it big. Investors got impressed with her dedication and hard work and she received her first funding of $ 3M in May 2012. Then another funding of $ 6M in Dec 2013 and $40Mn in 2015. Today her company valuation is more than Rs.681 Crores. Her determination and persistent efforts have been her greatest assets. Now she ranks among the most influential female entrepreneurs.
Launching Zivame niche online lingerie store
Richa then launched the brand in 2011, using up all her savings and Rs. 35 lakhs that she had borrowed from her friends. Zivame is an online lingerie store that features hundreds of styles tailored carefully for the needs of Indian women. Zivame has now become a leader in this niche online shopping segment, offering more than 5,000 styles, 50 brands, and 100 sizes. Zivame also offers a wide range of quality products for women in various categories that involves, but is not restricted to, lingerie and activewear. Zivame has witnessed such a tremendous reception that it now has brick-and-mortar stores across the country.
Zivame’s products come at affordable rates and the quality is also amazing. Zivame at one point had 5 million visitors online every month out of which nearly 1 million were new visitors which helped Zivame grow. This number has grown multifold since then. Zivame’s consignments have reached all Indian states other than Lakshadweep. With e-commerce becoming mainstream, Zivame was quick to extract the maximum out of this domain by being amongst the early adopters. Richa Kar understood with the time that jumping onto the e-commerce bandwagon was solely the first step to success and becoming the leader in the lingerie category was worth much more.
For an unparalleled customer experience, a healthy inventory is essential, and that in turn requires significant cash reserves. Zivame was right in scouting for funding early on. In its funding voyage, Richa met Vani Kola, the founder of Indo-US Venture Partners. Vani showed tremendous alacrity towards supporting Richa’s initiative. The first meeting between the two parties was a smooth sail with a strong relationship established by the end of the day. The website sells panties and lingerie of all sorts and types like the backless bra and bikini collections. Other than various panty sets, the site also has a collection of pajamas, boxers, housecoats, etc.
A strong belief in the power of a team keeps Kar motivated. She believes that as an entrepreneur, it is important to pass on the company’s vision to every employee in order to derive the best from each one of them. So, was it tough to hire people with this novel concept?
“Your business is going to be looked at the way you project it. I have never been uncomfortable with the fact that I sell lingerie and I’d say the same for the men on my team. I have men in my operations team, the product design head is a guy, he’s the one fussing over curves and cups and fabric,” she proudly affirms.
While one might think that it isn’t such a big issue, a survey by the company shows that 82% of women in India have never received professional help in finding the right bra. Haven’t we all experienced that first time was overcome by awkwardness, we just picked the size that the saleswoman/man suggested? Well, Zivame sought to change that experience by introducing features like Fit Consultant, trials at home, and even launched an offline fitting lounge in Bengaluru in December last year. This is a place where women can consult a fitting expert, find the right size and style, and thereby place an order.
Kar constantly stresses the lengthiness and arduousness of the journey of entrepreneurship. She points out that while not quitting is her motto, at times entrepreneurs need to review their model when things are not going right. Knowing when to pull the plug is a painful but crucial decision says Kar, whose brother sold his educational start-up when he realized it wasn’t working the way he wanted it to. So, what helped her stay on track? “While the founder and his/her team take away all the glory, it is the family who bears the brunt of entrepreneurship,” says Kar, who attributes her success to her parents, in-laws, and husband.
She recounts several vacations abroad and family dinners that she skipped because of work. Even Kar’s wedding was conducted hurriedly with the groom showing more enthusiasm than the bride when it came to arranging the event. “I would chip in on weekends. One night before my Mehendi, I was working on quarterly reports that I had to send the investors. And I was back at work the very next day after my wedding,” she says, as she elaborates about the shocked faces, she encountered at work the next day.
Lesson from Richa’s journey
While initially, everybody was against her idea for the startup including her parents, Richa Kar was focused and worked towards her dreams. And today the same people appreciate her for her work. Self-confidence is very much important in life. Criticisms are a part of life but what matters is to prove to the world about your abilities.
If the criticisms are constructive take it in if not walk past. Failures and setbacks are a part of life. When you are focused and hardworking your journey to success is not too far.
