Ziniosa Secures Funding for Expansion and New Store Launch

India-based Ziniosa, a platform for used luxury fashion, has secured an undisclosed investment from Inflection Point Ventures to enhance its core operations, technology, and visibility, as well as establish its first physical store. Founded by Ashri Jaiswal and Varun Ramani in 2020, the company operates on a zero-inventory model and prides itself on highly stringent authentication processes, boasting over 3,000 items from over 60 luxury brands. Ziniosa is set on expanding its men's collection and overall product range to meet growing demand. Mitesh Shah of Inflection Point Ventures highlighted the rising popularity of thrifting in India, which aligns with more sustainable consumption patterns. Despite its growth, the used luxury market in India faces challenges such as trust issues related to product authenticity and a lingering stigma among affluent consumers towards pre-owned goods. A report by the Imarc Group projects the market's value to grow significantly from $683 million in 2024 to $1.6 billion by 2033, driven by a growing acceptance of used luxury items.