Meet Richa, Founder of Zivame… Acquired by Mukesh Ambani

By Deepika

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Richa Kar’s journey began with a realization of the discomfort women faced while shopping for lingerie in India. Limited knowledge among salesmen and the lack of privacy led to compromises in size and fit. Inspired by her experience working with Victoria’s Secret, Kar conceptualized an e-commerce platform that would empower women to make informed choices and prioritize their preferences.

   

 

Business woman Richa kar

Born on July 17, 1980, in Jamshedpur, India, Richa Kar hails from a traditional family. At present, she is 42 years old and her hometown is Northville, Michigan in the United States. Kar completed her post-graduate diploma from SVKM’s Narsee Monjee Institute of Management Studies (NMIMS) in 2007. Initially, she worked in the IT field for a few years after obtaining her degree. Later in 2007, she earned a master’s degree from the esteemed Narsee Monjee Institute of Management Studies (NMIMS). Kar acquired valuable skills working for companies like Spencers and SAP retail consultancy.

Zivame, meaning ‘radiant me’ in Hebrew, was launched in 2011 as an online platform to provide women with a comfortable and private shopping experience. With a staggering collection of 5,000 designs, 50 brands, and 100 sizes, Zivame quickly gained popularity among Indian women seeking lingerie that catered to their specific needs.

 

Zivame founder Richa kar story

 

While initially focused on lingerie, Zivame soon diversified its offerings to include women’s clothing, fitness wear, and sleepwear. Kar’s attention to product mix decisions, considering factors like price, quality, and customer feedback, helped build trust and confidence among buyers. Zivame’s commitment to excellent customer service further cemented its position in the market.

 

With Zivame’s online platform gaining popularity, Kar decided to expand her business by setting up physical stores. In 2016, she launched Zivame Studios, offering a seamless omni-channel experience to customers. This move enabled Zivame to reach customers in tier 2 and tier 3 cities across India.

Zivame founder Richa kar

 

Despite facing criticism and initial challenges, Zivame’s unique concept garnered attention from investors. In May 2012, Richa Kar secured her first funding of $3 million, followed by $6 million in December 2013, and a significant funding round of $40 million in 2015. Today, Zivame boasts a valuation of more than Rs. 681 crores

Zivame was aquired by Reliance retail in 2020

 

Zivame founder Richa kar

 

Despite stepping down as CEO in 2017, Richa Kar maintains her position on the board of directors and has retained her equity in Zivame. According to the Economic Times, her net value stands at Rs 749 crore.

 

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Deepika