Kimaya Fashion completes a decade in business this year. The Mumbai-based firm is a retail aggregator of fashion designer wear, bringing edited collections from different fashion houses under one roof. With 16 stores, Kimaya has established itself in the designer fashion industry, collaborating with a 180 Indian designers from the likes of Tarun Tahilliani & Manish Malhotra to Ranna Gill. In July 2011, Franklin Templeton’s PE arm acquired a 20 per cent stake in the privately held company for Rs 60 crore ($11.3 million), valuing the company at Rs 300 crore. With an average ticket size of Rs 27,000, Kimaya carters to the super premium, but the firm has now also opened a more affordable garments chain under the brand name Karmik to reach out to generate more volumes. In an interview with VCCircle, Pradeep Hirani, the founder & CEO of Kimaya Fashion, reflects on how the designer wear industry has changed and the company’s plans.
(Edited by Prem Udayabhanu)