Online lingerie brand Clovia targets 50 per cent growth in 2016-17

Purple Panda Fashions, owners of e-tailer Clovia lingerie, will expand its production from 5 to 12 lakh units by the end of 2016. It expects to grow its business by 50 per cent quarter-on-quarter in 2016-17. Clovia was launched in 2012 to fulfil the need for quality and good intimate wear for women. Its range includes intimate apparel, night wear, leggings, thermals, stockings and gift sets. All its products are designed in-house with production outsourced to over 16 factories across North India.

The company is expanding its shop-in-shops at key airports in order to build the brand. Last year, it launched 10 shop-in-shops and plans to add six more during the present year. Pankaj Vermani, Co-founder and CEO, Clovia, says that they will be expanding their production capacity to 12 lakh units and expects their revenues to grow 1.5 times by the end of this fiscal. Clovia received funding in mid-2015 from IvyCap Ventures, which will help it grow its footprints in addition to marketing initiatives, team development and product innovation.

The lingerie market is still unorganised in India and a rough estimate pegs branded players accounting for less than 35 per cent of it. Clovia is in competition with online brands such as Zivame, PrettySecrets, Cilory, Straps and Strings among others.