Bangalore: Ronnie Screwvala, UTV founder and owner of Unilazer Ventures has made an investment of $6 Million in Zivame, an Indian lingerie e-commerce website. The funds will be utilized to improve personalization, recommendations and visual merchandising, as well as marketing to get more tier 2 women buy online, reports TOI.

“We invest in broad-based consumption stories, which are scalable lending itself to building a brand. Indian shopping habits in this segment has not even touched the tip of the iceberg. Online shopping will be massive as it lends to private shopping,” said Screwvala, who sold his stake in UTV Software Communications to Walt Disney in 2011 for 2,000 crore and started Unilazer Ventures as a family business.

Founded by 33-year old Richa Kar, a BITS Pilani alumnus, the Bangalore-based Zivame started its operations in August 2011 and deals particularly in lingerie, loungewear, swimwear, nightwear and other allied categories. Zivame plays host to more than 12000 SKUs from domestic and international brands like Jockey, Triumph, Amante, Enamor, Bw!tch, Inaya, Hanes, Hollywood Fashion Secrets, Lovable and many more. The company has also recently added fashion apparels to its product mix, competing with other multi-brand e-tailers like Myntra and Jabong for online lingerie sales.

Last year, the company raised Series A funding from IDG Ventures and Indo-US Venture Partners Visitors grew from a mere 6000 in August to over 17 lakhs in July 2012. And earlier in January this year, Zivame raised $3 million from IDG and Kalaari Capital. The portal plans to quadruple its online sales to 1,000 Crore in the next 3 to 5 years.

India's heavily fragmented lingerie market is estimated at $3 Billion.

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