Zivame to be women’s wear brand, launch new categories

By

Maverick Martins

Published
Jan 31, 2017

Online lingerie retailer Zivame is planning to foray into the women’s wear market in the coming months and hopes to break even by 2018. The company is also expecting a boost from its ambitious plan to open at least three dozen stores across the country.

“We want to be a women's wear brand and will launch new categories like active wear and others over the coming months. We will be breaking even by June 2018,” Zivame’s new chief operating officer Shaleen Sinha told the Economic Times.

Zivame's strategy to sell its brands both online and in brick-and-mortar stores will be key to achieving profitability, Sinha said.

Sinha added that the company's decision last year to transform from an online marketplace to an online brand will help it reduce cash burn by 60-70% over the next 18 months.

“Our cost of customer acquisition will come down due to multiple channels and we will also revive marketing through TV commercials over the next month,” he said.

In fiscal 2015-16, Zivame registered an 84% increase in losses to Rs 54 crore on revenue of Rs 62 crore, according to filings with the Registrar of Companies. It had an inventory of Rs 40 crore.