Online women’s fashion brand Kaaryah shuts operations

Gurgaon-based online women’s fashion brand Kaaryah, backed by Ratan Tata, has shut shop due to lack of funds, says Nidhi Agarwal, Founder and Chief Executive, Kaaryah. The company was trying to raise funds for the last 18 months and broke twice in 30 months. It received normal amounts of funding, given that the company was capital efficient and working capital-light company. But fact of the matter is, nobody is looking to fund anything right now, she added.

Agarwal says, all employees of Kaaryah have been laid off. In its heydays, the online fashion startup had a workforce of around 50 to 60 people. She further claimed employees were given a notice period of two months. Some were also provided with references and job placements elsewhere. Agarwal is currently working as a consultant for startups looking to build their own brands.

Kaaryah was launched in 2014 by Nidhi Agarwal, it was a technology-enabled and data analytics-driven apparel brand that catered to women’s western wear category in India. During the three years since its inception, the startup provided trendy western outfit for professional women based on Indian body type. According to the founder, Kaaryah’s team relied on process re-engineering backed by home-coded technology to help the company stand out.