Indian women’s ethnicwear brand Kiaasa Retail Limited plans to expand its retail network to around 250 stores over the next three years, aiming to significantly strengthen its presence across the country as it scales up operations in the organised fashion retail market.
The company, which raised Rs. 69.7 crore (US $ 7.41 million) through its initial public offering (IPO), intends to use the proceeds to support store expansion and strengthen working capital as it accelerates its growth strategy.
The company currently operates more than 120 exclusive brand outlets across about 70 cities, supported by a mix of franchise and company-operated store formats. The planned expansion forms part of its broader strategy to deepen market penetration, particularly in emerging urban centres and Tier-2 and Tier-3 cities.
Chairman and managing director Om Prakash described the listing as an important milestone in the company’s development. Prakash stated that the IPO proceeds are primarily earmarked for near-term expansion, with the company planning to open around 67 to 70 additional stores over the next couple of years. He indicated that this expansion would form part of a broader vision to build a 250-store network by FY ’29, while deepening the brand’s reach across the country.
Founded in 2018 and headquartered in Ghaziabad, Kiaasa specialises in women’s ethnic and fusion wear, offering products such as kurtas, suit sets, lehengas, bottoms, dupattas and accessories designed to appeal to value-conscious consumers in fast-growing regional markets.
On the financial front, the company expects around 10% topline growth compared with the previous year, while placing greater emphasis on improving profitability. Prakash indicated that the company is working to strengthen its bottom line by optimising its product portfolio and increasing the average selling price (ASP) of its products.
The company is also strengthening its omnichannel retail model by combining physical stores with online platforms, enabling it to reach a broader customer base while enhancing convenience for shoppers.
Kiaasa’s expansion strategy has been supported by strong recent financial performance. For the financial year ended March 2025, the company reported revenue of Rs. 120.7 crore (US $ 13.16 million), up from around Rs. 85 crore (US $ 9.27 million) in the previous year, while profit after tax rose to about Rs. 8 crore (US $ 872,000) from Rs. 5.74 crore (US $ 626,000) a year earlier.
The company has also tapped capital markets to support its growth strategy, raising funds through a public issue that will partly be used to finance new store openings and strengthen its retail infrastructure.
Executives said the expansion drive is aimed at consolidating Kiaasa’s position in India’s rapidly growing ethnic wear segment while building a scalable national retail network.
