Richa Kar and Kapil Karekar revolutionized the lingerie market with the inception of Zivame in 2011. Initially serving as an online aggregator for renowned lingerie brands like Enamor, Amante, and Jockey, Zivame transitioned into a private label business in 2016, offering a diverse range of intimate apparel. The company gained significant recognition and disrupted the traditional lingerie shopping experience.
In 2020, Zivame underwent a transformative phase when it was acquired by Reliance Retail, led by business tycoon Mukesh Ambani, in a deal valued at $160 million. This strategic move aligned with Ambani’s vision for a comprehensive retail ecosystem that caters to diverse consumer needs.
After the departure of co-founder Richa Kar in 2017 and subsequent leadership changes, Zivame found stability under the guidance of Lavanya Pachisia, who assumed the role of Chief Operating Officer. Lavanya, a seasoned professional with a background in finance and business strategy, played a pivotal role in steering Zivame toward profitability.
Under Lavanya Pachisia’s leadership, Zivame achieved profitability across all its sales channels in the fiscal year 2023. This marked a significant milestone for the company, showcasing its resilience and adaptability in a dynamic market.
Lavanya Pachisia, a Chartered Accountant and Cost Accountant with over two decades of experience, has been instrumental in Zivame’s growth trajectory. Her previous roles at Nike as a Finance Controller and at Ernst & Young Global Limited (EY) as an Audit executive provided her with a robust foundation in financial management and business planning.
Zivame, historically operating as a digital-first brand, experienced a transformative shift in its retail strategy post-acquisition. Lavanya Pachisia highlighted the expansion of Zivame’s retail footprint, with the establishment of more than 170 proprietary stores, a substantial increase from the initial count of fewer than 50.
In discussing Zivame’s success, Lavanya emphasized the brand’s commitment to addressing common challenges faced by women in lingerie shopping, such as choosing the right fabrics and sizes. Zivame, under her guidance, leveraged innovative technology to provide comfortable intimate wear suitable for women of all sizes, shapes, and ages.
Zivame’s omnichannel strategy, as articulated by Lavanya Pachisia, aimed at creating a seamless shopping experience for customers. The company maintained consistent pricing across online and offline channels, irrespective of the location, embracing the concept of ‘true’ pricing over frequent discounts. This approach ensured uniformity in customer experience and pricing transparency.
Furthermore, Zivame, in alignment with the Make in India initiative, optimized its manufacturing operations by shifting to domestic facilities and collaborating with more vendors. This move not only supported the local manufacturing ecosystem but also enhanced operational efficiency.
In essence, Lavanya Pachisia’s strategic vision and operational acumen played a crucial role in Zivame’s evolution, navigating challenges, and positioning the brand for sustained growth in the dynamic lingerie market. The brand’s success story reflects not only its adaptability but also its commitment to empowering women with quality and comfortable intimate apparel.