Men’s ethnicwear brand Kisah Apparels has raised Rs 13 crore in a funding round led by Sagar Daryani, founder of quick-service restaurant chain Wow Momo.
The round also saw Inflection Point Ventures and other angel investors participate.
The funds will be used to expand Kisah Apparels’ offline presence, scale up direct-to-consumer (D2C) operations, and invest in brand building.
“The idea behind raising this money is to develop our offline strategy and invest more in brand building, as offline retail requires a stronger brand pull to attract people to our stores,” founder and chief executive Yash Sarawagi told ET.
Founded in 2018 by Sarawagi and Yashwi Ladasaria, the company began with a marketplace-first model and is now evolving into an omnichannel brand. It currently runs two physical retail stores in Kolkata and plans to open three more in other parts of India.
“We opened a larger, full-format store two months ago in Kolkata, and our next flagship store is set to open in Bengaluru by the end of July,” he said. The startup aims to open five to six stores in cities such as Gurugram, Hyderabad, and Bengaluru.
According to Sarawagi, retail is expected to account for 10-12 per cent of the company’s revenue in the current financial year, with a more significant increase in contribution expected from FY27 onwards.
Ethnicwear brands focusing on Gen Z and providing a variety of Indian apparel have been drawing the attention of venture investors. According to industry executives, the branded or organised Indian ethnicwear market is worth Rs 30,000-35,000 crore and is growing at a rate of 20-25 per cent .
“The age group of 25 to 35 has a strong affinity for ethnicwear. They want to embrace it but are bored of seeing the same styles their fathers and grandfathers have worn for years. So, our core objective is to modernise the category to suit the preferences of the youth,” Sarawagi added.
Approximately 73 per cent of the company’s revenue is generated through marketplaces, while its direct-to-consumer (D2C) channel contributes about 15 per cent . The remainder comes from international markets, including the US and the UK.
The startup closed FY25 with revenue of around Rs 50 crore, up from about Rs 23 crore in FY24. The Kolkata-based company is currently operating at a run rate of around Rs 90 crore.
Commenting on the investment, Wow Momo’s Daryani said the brand’s focus on its target customers has delivered strong performance metrics. “Any successful brand today must be rooted in a unique consumer insight and solve a real problem in a large market,” he said.
