wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , ,

Zovi.com Raises $10 Million From Tiger Global & SAIF Partners

Robemall Apparels Pvt Ltd which runs Zovi.com, a lifestyle apparel and accessory e-store, has raised $10 million (~ Rs. 56 crore) in a series B round of funding from Tiger Global and SAIF Partners, reports Startup Central. Zovi.com currently sells shirts, belts, trousers, jeans, sportswear, among others for men and women. It also sells men's apparel designed in-house by a team led by Sartaj Mehta, former design head of Benetton India. With its in-house design team, Zovi is able to sell high quality apparels at low cost. Zovi claims that they are able to sell high quality apparels at low cost as it does not incur cost of rent, sales staff, retail store capex, and retail store overheads. It does not have any retail presence and it fully operates as an online business model. Last year, ZOVI raised $5.5 million from SAIF Partners and a group of angel investors including MakeMyTrip founder Deep Kalra to expand its supply chain and product range. The website offers the conventional mode of payment including net banking, credit/debit card (it does not support Maestro), cash on delivery and PayPal. It also offers free shipping on all of its products. Of late, venture capitalists have shown a lot of interest in ecommerce stores. There's also a consolidation war going on -- Flipkart has shut down Letsbuy.com after acquiring it for an undisclosed amount, Snapdeal.com also shut down Esportbuy.com just after two months of its acquisition. More recently, Myntra.com, an apparel, footwear and accessories focused ecommerce venture raised $21 million from Tiger Global, the same venture capital that has invested…

Please subscribe/login to read the full story.
Written By

Free Reads

News

With GPS in every car, India's toll collection is going high-tech.

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ