Indian Online Lingerie Startup Gets $6M Funding, Sector Looks PromisingPosted: December 11, 2013
Legend has it that Victoria Secret founder Roy Raymond was inspired to start the store after feeling embarrassed during lingerie buying adventures for his wife. He envisioned that the not-so-cool and ugly lingerie stores with unfriendly saleswomen could be replaced with cool , colorful and aesthetically designed stores with pleasant service.
India, a country notorious for women’s safety and privacy is perhaps ideally suited for a revolution in the way lingerie is purchased. Two online lingerie sites have seen hectic activity since launch. PrettySecrets.com, founded in 2011 claims ‘it is inspired by the desire to bring high quality lingerie to the Indian woman’s doorstep’. The venture is backed by Indian Angel Network, Harvard Business School Alumni Angels India and a bunch of other investors. Alexa stats clearly show a take-off in traffic from end of 2012 and it is currently is one the top 3000 sites in India.
Another Indian lingerie etailer called Zivame , also founded in 2011, recently announced it has raised $6M from a groups pf VCs including IDG ventures. The site claims to feature over 2000 styles across various lingerie categories. The site is already among the top 1000 sites in India per Alexa. It will be interesting to wait and see how these ventures play out in this niche retailing segment that has the potential to target over 100M women in the coming years.