Actoserba Active Wholesale, which owns the online lingerie store popularly known as Zivame and currently a part of Reliance Retail, reported 31% drop in sales at Rs 147 crore for 2020-21 while net loss too decreased by 11% at Rs 42 crore, as per latest regulatory filings to Registrar of Companies (RoC).
The filings, accessed through business intelligence platform Tofler, also indicated the company’s total expenses for the fiscal was Rs 189 crore. Reliance had acquired the company last fiscal.
In the filings, Actoserba Active Wholesale said operations and revenue were impacted due to Covid-19. The company is carrying on wholesale business, including through ecommerce, of apparels, lingerie, swimwear, nightwear, sportswear, innerwear, accessories, textiles, cloth, ready-made dresses and all types of dress materials.
“The company has become a subsidiary of Reliance Retail Ventures Ltd with effect from February 18, 2021. Now, the company plans to continue with retail expansion in the coming years and will continue to expand and strengthen in new business categories like shapewear and personal care,” it said in the filings.
Industry executives said Reliance Retail plans to use the wholesale business of Actoserba Active to expand its B2B business in the lingerie and nightwear segment as part of its new commerce strategy, apart from expanding Zivame into newer categories like personal care products and integrating it into its JioMart e-commerce platform.