Kiaasa Retail IPO

Kiaasa Retail is a women-focused fashion brand engaged in the design, sourcing and sale of ethnic wear and accessories which operates through an omni-channel model including exclusive brand outlets (EBOs), franchise stores and online platforms .

The company’s product portfolio includes sarees, kurtas, kurta sets, lehengas, tops, bottom wear, dresses, dupattas, winter wear, handbags and jewelry with a focus on affordable fashion for tier-2 and tier-3 cities. In FY25, the major contributor to the revenue was Salwar-Kurta-Dupatta, which accounted for 80.56%, followed by Kurta at 6.88%, whereas other segments such as lehengas, gowns, and accessories accounted for smaller shares. The major source of revenue for the company comes from B2C retail business (72.84%) through offline and online stores, followed by B2B business (26.04%).

Geographically, Uttar Pradesh accounted for 21.11%, followed by Delhi at 11.61%, Haryana at 7.93% and 15+ other states in FY25. As of September 30, 2025, it operates 122 Exclusive Brand Outlets across 70 cities with a mix of FOFO (14 stores), FOCO (94 stores) and 14 company-owned stores as of Sep 2025. The company also sells through its website and platforms like Amazon, Flipkart, Myntra and LimeRoad. Additionally, it runs a “Nine99 Store” format, where products are sold at a fixed price of ₹999 to clear excess inventory and target price-sensitive customers which improve inventory turnover and margins .