Clovia Success Story – History, Founder, Revenue Model & More


There are many women who feel uncomfortable discussing lingerie with a salesperson while shopping. This can lead to an unpleasant shopping experience. Clovia was created to address this problem. Clovia is now one of the leading online lingerie stores in India. Their products are affordable, and they cater to the needs of women of all ages. Lingerie is an essential part of every woman’s daily life, and Clovia’s products provide comfort and confidence. Many women consider Clovia to be the best and most trusted lingerie brand in India.

Clovia Success Story Highlight

Startup NameClovia
HeadquartersNoida, Uttar Pradesh
IndustryE-Commerce, Fashion Retail
FounderNeha Kant, Pankaj Vermani, and Suman Chowdhury
Total Funding Raised$22.7 Million
Parent OrganisationPurple Panda Fashions Pvt Ltd.

About Clovia

Clovia is a popular lingerie brand in India, known for its extensive range of lingerie that includes both everyday wear and fashion lingerie. The brand uses high-quality materials like satin, lace, and soft fabrics to design its products, making it a top choice for lingerie shoppers in India.

On March 20, 2022, the retail giant Reliance Retail Ventures Ltd. acquired a majority stake of 89% in Purple Panda Fashions Pvt Ltd., the parent company of Clovia. With this acquisition, Reliance has further strengthened its position in the Indian retail market while also providing Clovia with access to the vast resources and expertise of the Reliance Group.

Clovia – Industry

In 2020, India’s e-commerce industry emerged as the eighth-largest market globally, surpassing France and inching closer to Canada. The industry’s growth continued in 2021, with a 5% increase in sales and an estimated total revenue of US$ 56.6 billion. Between 2017 and 2020, the industry’s revenue surged from approximately US$ 39 billion to three times that amount, making it the fastest-growing e-commerce market in the world during that period.

Founders Team

Neha Kant

Neha Kant is the pioneering founder and current director of Clovia Lingerie, leading the company since its inception 9 years and 7 months ago. Prior to her success at Clovia, Neha worked as an Account Executive at FCB ULKA before transitioning to leadership positions at India Today and Smile Interactive Technologies Group, where she served as the Marketing Head. Neha holds a degree in Mathematics from Delhi University and completed her Business Management coursework at the prestigious FORE School of Management in New Delhi, India.

Pankaj Vermani

Pankaj Vermani serves as the CEO and founder of Clovia, the renowned lingerie company in India. Pankaj’s professional journey began as an Engineering Intern at GlobalLogic, and since then, he has founded and served various companies in different capacities. Pankaj’s education was completed at the prestigious Indian Institute of Technology, Delhi.

Suma Chowdhury

Suman Chowdhury, the co-founder and COO at Clovia, started his career as a senior designer and has since held various positions in different companies, including Product Manager at Lee Cooper. He completed his education at Kendriya Vidyalaya and Kolkata University and holds an Advanced Diploma in Fashion Designing from the National Institute of Fashion Design.

Startup Story of Clovia

Clovia is a lingerie brand that revolutionised the way women in India shop for lingerie. Ten years ago, the word lingerie was not a common term used in India. Founder Neha Kant saw an opportunity to change this by introducing new products and breaking the stigma around buying lingerie in traditional department stores. Her travels to Europe inspired her to create a brand that empowers women to feel confident and enthusiastic about their lingerie choices. Clovia was born with the goal of providing women with a comfortable and safe environment to shop for lingerie and to help them embrace their femininity.

Business Model of Clovia

Clovia’s business model is straightforward and similar to that of other online e-commerce giants like Amazon and Flipkart. Customers can easily purchase products from their website according to their preferences. The company’s extensive range of designs has contributed to its success and popularity, and the products are also easy to store.

Revenue Model of Clovia

Clovia’s revenue is mainly generated through its online sales, which are fueled by the brand’s wide variety of offerings and popularity among customers. The company’s success can be attributed to its decision to focus on the online marketplace, which has proven to be a more lucrative space compared to traditional brick-and-mortar stores.

Clovia also leverages digital and print marketing campaigns to promote its products and drive sales. The brand offers exclusive deals and promotions to its existing customers through email marketing, which helps to increase sales and boost revenue. The company’s strategy of incentivising sharing among customers also contributes to its profitability.


December 2020Series C$4 MillionGolden Birch Investments, She Capital
January 2019Series C$10 MillionAT Capital
April 2017Series B$4 MillionRavi Dhariwal, Singularity Ventures
June 2015Series A$4.7 MillionIvyCap Ventures

Frequently Asked Questions

When was Clovia founded?

Clovia was established in the year 2012.

Who is the founder of Clovia?

The founders of Clovia are Neha Kant, Pankaj Vermani, and Suman Chowdhury.

Is Clovia an Indian brand?

Clovia is a brand that originated in India and is based in Noida, Uttar Pradesh.

Has Clovia been acquired by Reliance Retail?

Yes, Reliance Retail has acquired a majority stake of 89% in Clovia.