Despite a difficult fiscal, Kimaya eyes growth

Even though last fiscal was tough for multi-designer fashion house Kimaya, it is looking to achieve

growth this year on the back of its affordable ready-to-wear designer wear brand Karmik, launched last year. The company recorded sales revenues of Rs 75 crores for year-ended March 2013. However, it experienced a flat year after the lease for two major stores expired. But it continues to plan retail expansion sighting rise in demand for designer wear. Kimaya already has 12 Karmik stores in India and one in Lahore and plans to increase the overall number of stores to 60, out of which 30 would be company-owned and the rest would be operated through the franchise route. Kimaya has 13 stores and its number would be taken up to 20.

Kimaya also retails through e-commerce platforms: Kimaya.in and Karmik.in and plans to launch a third portal called Designerrack.com offering deals and discounts. The company aims to keep its store opening target up to 2017 and then the complete focus would be on growth of e-commerce platforms. Out of an investment plan of Rs 30 crores, for building e-commerce venture, the company has already utilised Rs 12 crores. The rest would be invested in growing the channel over the next one year. Instead of increasing international footprint through physical stores, the company is looking at partnering with some international fashion portals such as Net-a-porter.com and Secretsales.com, among others to retail Kimaya’s range.