Wednesday 4 April 2018

Hrithik Roshan launches sendmygift.com in Bengaluru

Bollywood actor Hrithik Roshan is thrilled and is looking forward to pick a gift for his mother on the occasion of her upcoming birthday.


More so after having officially launched the online gifting portal sendmygift.com (SMG) at an event in Bengaluru earlier this month. The e-commerce marketplace has been designed by the TGS Group to help people select and deliver apt gifts for their loved ones.


Speaking during the launch event, Hrithik says, I am very proactive in my mind about being enabled and give opportunities and platform for people to grow. We have a lot of talent and it needs to be nurtured. So, if I find something that I believe in I would invest my efforts and money in. The online gift portal is the brainchild of Mandeep Kaur, chairman and managing director. India is the country of festivals and emotions. And celebrations are incomplete without gifting. Therefore, the brand has decided to launch the portal, Mandeep says.

Adding to this, co-founder Chinta Shyamsundar says, The projected gifting market in India is estimated at $20-30 billion by 2020. The income level, spending level and aspiration level of people have risen tremendously over the past decade, but there is a big gap between demand and supply in the gifting industry. This new portal plans to bridge this gap.

Sunday 1 April 2018

Online Lingerie Retailer Zivame Pivots To Private Label Business

Bengaluru-based online lingerie retailer Zivame has pivoted to a private label business in a bid to improve its margins and thereby boost its revenues.

Zivame was founded in 2011 by Richa Kar as an aggregator of lingerie brands. As per a note on the company’s website, Zivame has rebranded its three private labels — Penny, Cou Cou, and Rosaline into Zivame.


The move comes at a time when Zivame is concentrating on its offline expansion. The company had set up offline experience stores in three cities and had plans to scale up to 50 such customer touch points by next year, Kar had told ET in July.

Zivame has so far raised about $50 Mn from investors including Unilazer Ventures, IDG Ventures India, Kalaari Capital, Ratan Tata, Zodius Technology Fund, and Khazanah Nasional Bhd. In September last year, Zivame raised $38 Mn (INR 250 Cr) Series C round.

According to Research and Markets, the online lingerie market in India is expected to grow at a CAGR of 42.32% from 2014-2019. The lingerie retail market in India is estimated to be around $2.26Bn (INR 15,000 Cr).

In June 2016, Mumbai-based online lingerie platform Prettysecrets, raised $6 Mn (INR 40 Crore) from RB investments and Orios Venture Partners.

Other players dealing exclusively in the online lingerie space include Clovia, Cilory, Shyaway, and Buttercups.

This development was reported by ET.

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