Can Replacing the Founder CEO Help Zivame Grow?
| Case Code: LDEN185 Case Length: 9 Pages Period: 2012-2021 Pub Date: 2022 Teaching Note: Available |
Price: Rs.300 Organization : Zivame Industry :Retailing Countries : India Themes: Women in Business, Business Models, RetailTech, Growth Strategy |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Building the Online Platform
Zivame created and facilitated privacy for women to shop for their most intimate needs without the fear of being observed, rushed, or judged. Being a woman and an entrepreneur herself, Richa found it was easy for her to relate to the product and felt that the learning curve was much higher for her than it would have been for a man..
Scaling up Through Vc Funding
Under her leadership, the company raised its first round of funding of USD3 million from investors like Kalaari Capital (KC) and IDG Ventures India (IDG). She helped raise the second round of funding of around USD 6 million in December 2015 from Ronnie Screwvala, IDG, Unilazer Ventures, and KC. Under a year, in September 2016, the company raised its biggest funding of USD40 million from Khazanah Nasional, Unilazer Ventures, Zodius Capital, IDG and, KC. It also had Ratan Tata, the chairman emeritus of the Tata Group, as one of its investors..
Leadership Changes as a Result of Shift in the Business Model
The key shareholders and investor consortium comprising KC, Zodius Capital, IDG, Unilazer Ventures, among others, decided that it was time to pivot to a marketplace model from the private label or single brand model that Richa believed in and in which she had invested a significant amount of investor money. The board decided that to implement and scale up the company using the marketplace model, there was a need for a CEO with a different set of skill-sets and prior experience..
Moving From Multi-Channel to Omnichannel
Upon joining the company, Amisha decided to move to an Omni-channel approach and focused on building omnichannel strategies which were driven by innovation and were consumer-centric. She focused on building premium women-centric products for Indian women. Some of her initiatives were as follows..
Road Ahead
Zivame provided its customers with a seamless shopping experience and served them through various channels. It entered offline through an omnichannel approach and planned to expand to over 100 stores by 2022 while maintaining a leadership position in the online space. It also planned to expand to all major malls with a focus on Tier I cities..
Exhibits
Exhibit I: Female Innerwear Market in India
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