07 March 2026, Mumbai
Ghaziabad-based ethnic wear specialist Kiaasa Retail is embarking on a significant expansion phase following its recent listing on the BSE SME platform. Having successfully raised Rs 69.7 crore through its initial public offering (IPO), the company has outlined a strategic roadmap to scale its retail network to 250 stores by FY29-end.
Focusing on regional penetration
The current expansion strategy prioritizes deepening the brand’s presence in Tier-II and Tier-III cities, which serve as the primary customer base for its ethnic and fusion wear offerings. Om Prakash, Chairman and Managing Director confirmed, the company plans to launch approximately 67 to 70 new outlets over the next two years as the first phase of this larger goal. This push comes as organized retail continues to capture a greater share of the Indian fashion market, with consumer demand shifting toward affordable, contemporary ethnic styles.
Balancing expansion with profitability
While top-line growth remains a priority - with management forecasting a 10 per cent increase over the previous year - the company is concurrently optimizing its product portfolio and increasing the Average Selling Price (ASP) to enhance margins. According to its latest financial reporting for FY25, the brand recorded revenue of Rs 120.7 crore, up from Rs 85 crore in FY24, while net profit rose to Rs 8.38 crore from Rs 5.74 crore. This performance underscores a disciplined approach to managing capital as the company transitions from a regional player to a national retail entity.
Founded in 2018 in Ghaziabad, Kiaasa Retail specializes in women’s ethnic and fusion apparel, including kurtas, suit sets, and lehengas. Operating over 120 exclusive brand outlets across 16 states, the company employs a mix of franchise and company-operated models, with a strong emphasis on value-conscious regional consumers.
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