In a country where women hold only 7.7% of board seats and just 2.7% of board chairs, this young lady hailing from Jamshedpur broke the glass ceiling in a manner so audacious that it forced the nation to stand up and take notice.
Richa Kar, the founder and CEO of Zivame.com which is an online lingerie store for the Indian women, truly defines the new age woman entrepreneur in India. Not afraid to take chances, she is willing to go that extra mile. In her own words, "If you are strong, focused and passionate about what you want to do, everything falls in place."
Richa did her engineering from BITS, Pilani and completed her management studies from Narsee Monjee Institute of Management Studies in 2007. Post this she worked for SAP Retail Consulting during which she found herself working for the lingerie company Victoria's Secret. While she was studying the Indian lingerie market, she realized that the social discomfort surrounding lingerie shopping was causing myriad issues for both shoppers and retailers. To remedy this, she created Zivame, named from the Hebrew word for "radiance," to help women understand their lingerie needs and browse and purchase styles without embarrassment.
She launched her company from a small office space in 2011 with a single laser like focus to enhance the lingerie shopping experience for the average Indian woman. During a time when category expansion was the theme with Indian e-Commerce companies, and though she knew expanding categories could lead to easier funding and higher valuation, she refused to dilute the proposition and decided to stay focused on just one category and create a differentiation. For her it wasn't e-commerce first and then the category, rather it was the category first and e-commerce happens to be one of the most conducive channels as it maintains and respects your privacy because this category needs privacy. As the company grew, they raised funding from leading VCs. Within three years of its launch, Zivame had grown from a small operation to a team of more than 200 members. It is now India’s leading online lingerie store, offering more than 5,000 styles, 50 brands and 100 sizes with a valuation of $100 million.
Richa's story is one of the rare entrepreneurial success stories in India. To set up a business in an industry as personal as lingerie and disrupt it, is a commendable feat. She will succeed in inspiring many more women to take up the entrepreneurial route.
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