“What will the world and people say?” This is a question that often stifles dreams and halts innovation. But Richa Kar, the visionary who started Zivame, ignored all the noise that society was throwing out there and instead pursued her passion, broke through the stereotype, and created a brand that has redefined and changed women’s confidence and comfort.
Where did Richa, the Zivami Owner, pursue her education?
Richa Kar’s father worked at Tata Steel. Her mother was reportedly a homemaker. After several years in the IT sector, Richa decided to pursue her post-graduate diploma and then went on to obtain a master’s degree from SVKM’s Narsee Monjee Institute of Management Studies (NMIMS) in 2007. On her way to becoming an entrepreneur, Richa collected valuable experience from companies such as Spencers and SAP where she worked in retail consultancy. She was born on July 17, 1980.
During her retail consulting role at SAP, Richa Kar stumbled upon the online sales statistics of Victoria’s Secret. This experience helped her to see the issue of buying underwear faced by many Indian women, which is the absence of comfort and privacy.
After nearly eight years of work experience, and perspective from her project, Richa has not only gained valuable insight but also realized how much of a void there was in the market. She felt a strong urge to fill the gap and the thought of starting her own lingerie brand started to take form. When Richa first shared the news of the startup with her parents, it did not go as she had intended. Her father had doubts, and her mother completely disapproved. According to her media reports, her mother was embarrassed on behalf of her daughter for selling lingerie. Richa tried to convey her vision several times, but it was not easy to sway her parents. Nonetheless, Richa stood her ground.
It is reported that Richa Kar started to collect money from friends. In a twist of fate, her mother, who had originally opposed the idea, not only accepted it but was also supportive and decided to invest her own savings and convince her relatives to invest as well.
When did Richa launch Zivami?
Richa successfully collected Rs 35 lakhs, launching Zivame in 2011. The brand name, which means “radiant me,” represented her aspiration to help women feel confident and have the options they deserved. With more than 5,000 designs, 50 brands, and 100 sizes, Zivame was an instant hit with women in India looking for lingerie that suits all their needs.
Richa Kar, the founder of Zivame, took the brand a step further and built an even stronger online presence, and she made the next big leap into offline retail. In 2016, she launched Zivame Studios and took the concept of omnichannel experience to a different level, closing the gap between online convenience and in-store personal experience, and enabling the right lingerie experience for women in tier 2 and tier 3 cities in India.
When did Reliance acquire Zivami? What is the net worth of Zivami?
In 2020, Reliance Retail acquired Zivame, a significant milestone in the life of the brand. Richa stepped down from her role as CEO in 2017, but she remains on the board of directors, and she holds her equity stake. Richa’s current net worth is estimated to be Rs 749 crore, according to The Economic Times.