Online shoppers are sure to be familiar with Zovi and its offers. Zovi offers apparels and accessories that are designed and manufactured locally. The store provides quality for a reasonable price. Branded items are generally expensive owing to the selling process such as retail selling or other types of distribution chains where middlemen get to earn a good deal while the bill is on you. With Zovi, the experience is just the opposite as the company creates its own design and sells directly to the consumer. No middlemen and no commissions. With an impressive record, Zovi has retained a special place in the web-dominated world.
Adding Weight to Online Presence
Online world is highly competitive and hence one has to be consistent in producing results if the company has to outrun its competitors. Zovi can be said to have fared better by acquiring its rival Inkfruit. This gives Zovi a great chance to expand its online empire and proceed on a victory march. Let us see how.
- Though in the same field, Zovi and Inkfruit had been operating in different styles. Zovi is a born creator and it sells what it creates. As far as Inkfruit is concerned, it provides co-creation brands created by artists from around the world at a reasonable cost. It also allows its members to use their creativity and submit designs for apparels.
- Now that Zovi has acquired Inkfruit, it enjoys the benefits of the efforts put in by Inkfruit to make its store unique. Inkfruit had been enjoying the support of a very wide client base, which from now on will be shifted to Zovi as Inkfruit now has become a part of Zovi.
- The strength of distribution network of Inkfruit is well known. Zovi is famous for its creations. Now, Zovi could market its label through the distribution network more effectively.
- Apart from marketing its label, Zovi stands to enjoy yet another benefit. The creative community of Inkfruit opens doors for more creative designs and this is food for thought for Zovi’s designers.
- The stores had been functioning in their own style and so far they had established units in various places. Now that Zovi has acquired Inkfruit, there is a possibility of cutting down on expenses as there will not be a need for two units in a place. This could improve the profit margin for Zovi.
How Good Is It For Inkfruit Founders?
The co-founders of Inkfruit continue to perform in the unified entity and they will still be investors in the entity. They have an active role to play in the operations of the integrated businesses. The financial details behind the merger are not yet announced.
Zovi Parades in Style
The merger has helped the combined entity to raise $10 million as funds from Tiger Global and SAIF Partners, who are existing investors in Zovi. Out of these two investors, SAIF Partners had also invested in Inkfruit well before the merger. All these go to make Zovi stronger. With a view to promote their products and services, Zovi also offers Zovi coupons. Customers can use these coupons to make purchases at a discounted rate. The online store also announces lucrative deals for various products for fabulous discounts. With Zovi offering the best bargain to its customers, the combined entity is going to be the top-rated in the online retailer world for apparels and accessories.