Incentives to empower women entrepreneurs from non-metros is what Neha Kant founder of Clovia seeks from the upcoming Budget 2023
The online lingerie market in India and it is poised to grow by $ 859.41 mn during 2022-2026, progressing at a CAGR of 18.07% during the forecast period, according to a Research and Markets report.
Founded in 2012, Clovia by Purple Panda Fashions is an important player in the country’s lingerie segment. Founded by Neha Kant along with Pankaj Vermani and Suman Chowdhury, Clovia is a D2C fashion, lingerie and personal care brand for the urban millennial woman.
The company designs and manufactures in India; and sells premium fashion lingerie, innerwear, nightwear, shapewear, swimwear and athleisure products under the brand name Clovia; and personal care products under the brand Skivia from the House of Clovia.
While most entrepreneurs look forward to announcements that will benefit their sector, Neha Kant seeks more support for women entrepreneurs.
“We expect the Union Budget to include incentives to enable empowerment of women entrepreneurs in tier 2,3,4 geographies (including the ones who may be running small enterprises from their homes) to become self-reliant and further scale their enterprise,” she said.
This is in line with Clovia’s Partnership Program wherein the company assists buddy entrepreneurs to build their technical expertise, develop products and create sustainable revenue streams for themselves.
“Policies and relief measures to assist domestic manufacturers like us in developing a strong homegrown brand would also help boost the retail landscape,” Kant said.