Women’s lingerie retailer Zivame is said to have begun talks with private equity firms to raise $50 million (the equivalent of Rs 350 crore). The transaction will value Zivame at $200 million (about Rs 1,400 crore), reports The Economic Times.
Zodius Capital is the company’s largest stakeholder, owning 60 percent of the company. Unilazer Ventures, promoted by Ronnie Screwvala, and Malaysian sovereign fund Khazanah Nasional hold the remaining stake.
The new investor will buy a portion of the stake held by Unilazer and Khazanah, the report said. ”About 20-25 percent stake is to be diluted in Zivame at a valuation of $200 million through a primary and secondary transaction,” a source told the paper.
Moneycontrol could not independently verify the report.
Zivame plans to use the proposed fundraising to expand the number of stores to 60 from 35 in FY20, the report said.
“The intimate wear market in India is witnessing a rapid growth on the back of strong underlying macro tailwinds. Today only six percent of the 40 million online women shoppers buy lingerie online. Significant upswing is also expected from the base of online shoppers itself increasing to 130 million by 2025 from 40 million,” Amisha Jain, CEO, Zivame told the publication. Jain, however, did not comment on the fundraising.
In 2015, the lingerie retailer had raised $40 million (Rs 250 crore) from Zodius Capital and Khazanah in a Series C funding round, valuing the company at $100 million.
It had bought the entire stake held by Kalaari Capital and IDG Ventures India, who were early investors in Zivame.
Run by Bengaluru-based Actoserba Active Wholesale, Zivame commands a 26 percent share of India’s online women lingerie market.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
- The New Normal in Planned Giving
- Why Every Woman Should Have a Set of Lingerie in Their Wardrobe
- What Are the Best Fundraising Ideas
- Fundraising Basics For Small Charities
- Diminished Endowments Need Planned Giving
- The Retail Jungle - Where Vision Becomes Real (Part 1)
- How to Select the Best Retail POS System
- Benchmarks - A Focus For Effective Retail Inventory Management
- Write a Bankable Business Plan - Ten Action Steps
- 7 Great Business Plan Ideas For a Really Tough Economy
- Fund Raising Event - Now is As Good a Time As Any For Fundraising
- Fundraising is Everyone's Business - 5 Activities to Enhance Revenue Before Year's End
- Retail and Food & Beverage Owners Slash Credit Card Charges, Profits Will Soar
- An a to Z of Wedding Planning
- 7 Ways to Really Screw Up Your Retail Business!
- How Will the Pre-Budget Report Impact Your Business?
- Wholesale Apparel Product Sourcing - A Challenge to Start-Up Retailers
- No Credit Check Cell Phones and Plans
- Lululemon says it is looking into reports of alleged abuse at overseas supplier
- Home-Made eBay Christmas Profit Report
Lingerie retailer Zivame plans $50m fundraising: Report have 520 words, post on www.moneycontrol.com at September 26, 2019. This is cached page on Talk Vietnam. If you want remove this page, please contact us.