India’s secondhand luxury fashion platform Ziniosa has received new funding from Inflection Point Ventures (IPV), one of the country’s biggest angel investor networks.
This funding will help Ziniosa grow by building a strong team, increasing brand awareness, improving its technology, reaching more customers, and opening its first physical store.
Ziniosa was started in 2020 by Ashri Jaiswal and Varun Ramani, who were engineers before becoming entrepreneurs. It has quickly become a leading platform for secondhand luxury fashion in India. Ziniosa offers over 10,000 verified pre-owned items in seven categories, including top brands like Louis Vuitton, Gucci, and Chanel.
Mitesh Shah, Co-Founder of Inflection Point Ventures, shared, “The thrifting movement is gaining a lot of popularity in India. It makes luxury fashion more accessible and affordable, along with driving sustainable and mindful consumption. We’re very excited to be a part of this, along with Ziniosa, and be able to offer high-end, quality fashion items to a growing market in India.”
Ziniosa is based in Bangalore and also runs a warehouse there. The company is growing 40% every year and has Rs. 15 crore worth of products, all sourced at no cost. This means it doesn’t spend money to get its products, helping it earn more profit and take less financial risk.
Today, Ziniosa lists over 30,000 products and includes more than 60 brands. The business is already making a profit on its core sales (CM1) while keeping its spending low.
Ashri Jaiswal, Co-founder of Ziniosa, stated, “The preloved movement is just getting started—and at Ziniosa, we’re proud to be leading it as India’s fastest-growing, organized platform for luxury resale. We’re not just selling fashion; we’re changing how India shops.”
Varun Ramani, Co-founder, Ziniosa added, “With the support from IPV, we’re gearing up to scale Ziniosa across all fronts—expanding our team, strengthening our tech, and opening our first store within the next two years. We’re also growing our men’s category and significantly expanding our product catalogue to meet rising demand.”
Ziniosa is the only partner for secondhand fashion on Tata Cliq Luxury. NSRCEL has also supported it at IIM Bangalore and by NASSCOM/CWE, which helps startups grow. The platform has a strong 80% sell-through rate, meaning most of its products get sold at one of the best rates in the industry.
India’s luxury market is worth about Rs. 82,000 crore (around USD 10 billion), and the secondhand fashion market in the country is estimated at USD 3 billion.
Worldwide, the preloved fashion market is expected to grow to USD 350 billion by 2027. This gives Ziniosa a big chance to grow, and the company is well-positioned to take advantage of this opportunity.
Read more- Virat Kohli Becomes Strategic Investor in World Bowling League
