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E-tailer Zovi to enter global market; plans to raise Rs. 180 crore for expansion
05 Sep 2014

E-tailer’s Zovi.com, which sells affordable apparel, accessories and footwear, plans to enter the international market, starting with the US this month, and then further expand to the UK, West Asia and Australia by the year end.

Zovi.com already has investors such as Tiger Global and Saif Partners. Now, in an attempt to fund its expansion, Zovi is also looking to raise about Rs. 180 crore from existing investors by November 2014.  Manish Chopra, CEO of Zovi.com, told BusinessLine that new investors will also participate in the latest funding round.  So far,  Zovi has raised about $25 million. The company plans to use the funds to scale up its manufacturing ability, build its supply chain and facilitate smooth international delivery.

Owned by Robemall Apparels Pvt Ltd,  Zovi was founded in 2010 by Satish Mani, Former Senior VP-Technology at Cleartrip, along with Kavindra Mishra and Sartaj Mehta.

 “We did an internal study and found that there is a huge demand for occasion--led ethnicwear from the Indian diaspora in the international market and there are not many players catering to the demand,” Chopra said, adding that it has tied up with DHL, FedEx and UPS for delivery. According to Chopra, India will remain the biggest focus market for Zovi as the branded apparel market is all set to double to $90 billion by 2020.

 

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