Clovia is a fashion clothing company that specializes in shapewear, lingerie, nightwear, and innerwear items. The brand was launched in the country of India by its co-founder Pankaj Vermani and his partners. The business rose rapidly achieving success. It is a startup with a rich history and solid reputation as an online retailer for woman's delicates. The company has been making news in business circles recently. If you've not yet heard about the organization, here are twenty things you probably didn't know about Clovia.
1. Clovia is a privately held enterprise
Crunchbase confirms that Clovia is a privately owned enterprise. You won't find shares of Clovia stock on any of the public stock exchanges because it's not yet filed for an initial public offering. Clovia depends on fundraising from venture capital firms and private investors for the capital necessary for its growth and development.
2. Clovia sells merchandise and does business via its downloadable apps
Clovia's lines of merchandise are available for sale to the general public via the apps it offers for online and mobile ordering. the most popular apps used for the company include Clovia-Lingerie Shopping App, PPFPL Vendor Management, PPFPL, and the PPFL Sales Team App. The analytics reports for the company show that a total of 260,021 downloads of the apps occurred within the last thirty days via Google Play and Itunes Connect. The number of downloads represents a monthly download growth rate of 66.51 percent over the previous month. Sales teams, vendors, and buying customers access the company through the apps.
3. Clovia's website is powered by a complicated assortment of technologies
The Clovia website is powered by a complex array of 47 technologies to power its website. They work in conjunction with one another to provide visitors and users with a smooth and seamless experience on the site. The technologies are distributed across 27 technology services and products. Some of them include iPhone Mobile Compatible, SPF, Viewport Meta, Google Analytics, HTML5, jQuery, and several others. Although Clovia did not disclose its annual IT budget, we estimate that the costs for technologies are in the tens of thousands per year.
4. Clovia's web traffic is high
The analytics report for the Clovia website shows that the number of monthly visitors to the site is high. Over the past thirty days, a total of 1,510,280 people visited the website. Google ranks the Clovia website at number 28,433 based on the number, of the millions of sites registered on the world wide web. It's one of the largest websites in the world currently.
5. Clovia is the most popular in India
Data for the Clovia website over the past 30 days reveals that most visitors to the website are from its home country of India. Ninety-six percent of visitors are from the region. Interest in Clovia is growing in The United Kingdom. Although just one percent of the web traffic is from the UK, the monthly visits growth is an impressive 352.44 percent. One percent of the web traffic is from the United States and less than one percent is from Germany and Japan.
6. Clovia has a small executive leadership team
The executive leadership team at Clovia is small, but they're effective. Pankaj Vermani is the founder and chief executive officer of Clovia. Neha Kant is a founder and director. Suman Chowdhury is a co-founder and chief operating officer.
7. Clovia has a three-member board of directors
The board of directors at Clovia is also small. Members of the board provide advisement for investments and strategic planning to the executive leadership team. Marco Stutz is an investment director for Southeast Asia for Mountain Partners. He currently serves on sixteen boards of directors in advisory roles. Norbert Fernandes joined the board as an observer on June 15, 2015. He founded one organization and currently serves on six boards of directors in advisory roles. Anisha Singh joined the board of directors on December s11, 2020. She is a founding partner for She Capital. She has founded three organizations and currently serves on one board of directors in an advisory role.
8. Clovia is a venture capital-backed organization
Clovia has participated in five rounds of venture capital fundraising. The most recent round of Series C funding closed on December 11, 2020. The total amount raised so far is $22 million. Clovia has secured the interest and support of seven investors. Some of them include She Capital, Golden Birch Investments, AT Capital, IvyCap Ventures, Singularity Ventures, a lead investor, Ravi Dhariwal, a lead investor for the Series B round, and Mountain Partners. Confidence in Clovia's likelihood of bringing a decent return on investments is high among the investors. The investors are comprised of a mix of private investors and venture capital firms.
9. Clovia was recently acquired by Reliance Retail
Techcrunch confirms that Reliance Retail purchased a majority stake in Clovia in early 2022. The new parent company bought 89 percent of the company for a cost of $125 million. This was the largest investment made in the business. Reliance Retail is the parent company of Purple Panda Fashions, the company charged with responsibility for Clovia. The estimated value of Purple Panda Fashions is $43 million as of December 2020 at its last valuation. Clovia's CEO announced that the leadership was pleased with the agreement and looking forward to becoming members of the Reliance Retail family.
10. Clovia is an established company
Clovia is not a new company compared to some other rising stars in the retail world. It's been around for eight years. It's had time to build a solid reputation in its home country of India. The business is currently partnered with the largest retail chain in the country. Its parent company is expanding into the innerwear and apparel categories of the retail industry and saw Clovia as an ideal acquisition. Clovia serves as a bridge to the premium D2C brand with more than 3,500 products in the loungewear and innerwear categories. The target audience for Clovia is millennial ladies.
11. Reliance holds Clovia in high regard
Reliance was drawn to Clovia because of the solid reputation the company built over its 8 years in the retail business. Clovia is known for its sense of stylishness in design and its high-quality merchandise in intimate wear. Clovia is the name of the brand, which Reliance has added to its extensive product line. Director of Reliance Retail Ventures Isha Ambani stated that Clovia's management team is strong and they look forward to the partnership that will benefit both companies.
12. Clovia's CEO is an honored businessman
Clovia CEO's LinkedIn page reveals that Pankaj Vermani, CEO of Clovia, has won numerous awards for his success as an entrepreneur and executive. India Retail honored its company with Lingerie Retail Brand of the Year in May of 2019. He won Retail CEO of the Year from the Global Leadership Awards in Dubai, in April 2019. Clovia was named Super Startup Asia 2018 by Super Startup Asia in September 2018. Other awards include Deloitte India Fast50 2011 and 2010, Red Herring 100 Asia in 2011, for being the 5th fastest growing business in India, and the IIT Delhi Outstanding Contribution to BRCA Award in 2000.
13. Vermani was educated in India
Pankaj Vermani is a native of India. He was educated at the Indian Institute of Technology, Delhi. He studied in a five-year integrated BTech/M.Tech degree program in computers and mathematics. He earned his bachelor's and master's degree from the combined courses.
14. Pankaj was involved in extracurricular activities during college
Mr. Vermani is a well-balanced leader who exhibited a willingness to take on extra activities to learn more about his craft. He took extra time in addition to his studies to pursue membership in the Mathematics Society. He was also on the Cultural Festival Organizer Team. Vermani also had an interest in theater and was a member of the school's Theatrical Group. You can learn a lot about a person by reviewing their activities during college. He successfully graduated with his degrees while juggling multiple activities in addition to his studies. It tells us that he is good at taking on multiple tasks simultaneously.
15. The CEO has international experience
Pankaj Vermani prepared for his entrepreneurial endeavors through his education. He added international experience to his studies. He engaged in two summer internships at the University of Trento, Italy. He learned how to interact with people in the academic and business world from different cultures and languages. It helped him prepare for partnering with companies from different countries for importing and exporting products to enhance and expand his company as CEO.
16. Vermani is a serial enterpreneur
Clovia is not the first business that Pankaj Vermani has established. Before Clovia, he co-founded a company called Seeknet Technologies. The startup launched in May of 2004. He remained involved in the business until 2005 when it was acquired by Tribal Fusion, an ad-space major. Seeknet Technologies was a real-time search platform. He went forward with his entrepreneurial endeavors to co-found Clovia in 2012. Vermani stayed on with Tribalfusion, Inc. as director from May 2005 through September 2006. Pankaj is also a computer engineer. He was a member of the initial engineer team for Global Logic from 2002 through 2004. He is a multi-talented professional in the tech industry who has made a habit of founding companies that become acquired by larger entities.
17. The CEO of Clovia has an impressive background
Part of the success of Clovia is thanks to the expertise and previous experience of its current CEO and founder Pankaj Vermani. He co-founded a third company called Vriti, and also served as its chief strategy officer. Vermani helped to grow the organization to the point of becoming a leader in online education. The business won the Red Herring Asia and Deloitte Fast50 awards. It also raised venture capital support in multiple fundraising rounds. Vermani designed and developed the scalable e-learning hosted solutions along with the edu-social networks hosted by Vriti. He built patent-pending testing and assessment engine, set up business operations for nearly 1,000 paid B2B partners, grew multiple revenue streams, and much more. It seems there is no end to his skills and talents.
18. Clovia offers partnership opportunities
Customers who desire to run home businesses can sign up with Clovia for a partnership agreement. The company invites people to a variety of partnership plans to sell Clovia products from out of their homes and reap the rewards. They also offer special incentives for influencers who have websites to become affiliates of Clovia. You can learn more about exciting business opportunities by visiting the official website for Clovia.
19. Clovia offers franchisement for brick and mortar store owners
Clovia made an even better offer to people desiring to open businesses in the local communities. The website for the company is interested in partnering with entrepreneurs who wish to open a Clovia store. They're advertising for franchisees on the website. You can fill out a request form to gain consideration for your very own store. The request form is simple to complete. Your initial inquiry can be completed and submitted online. They make the process of getting started easy.
20. Clovia is a company to keep your eye on
Clovia is under the majority ownership of a larger parent company. Even though this is the case, it still operates under its original brand name. Clovia continues to run as usual, except for more resources to draw upon for expanding its product lines and the reach to the public. It's a company that is on the move. It's growing and thriving under the new partnership. Clovia is a company that bears watching. We expect to hear more about its success in the months and years in the future.
Written by Allen Lee
Read more posts by Allen Lee