Men’s ethnic wear brand Kisah Apparels has raised INR 13 crore in a funding round. Sagar Daryani, the founder of the popular food chain Wow Momo, led the round.
The funding round also included investments from Inflection Point Ventures and several other angel investors.
Kisah Apparels will use the money to open more physical stores, grow its direct-to-consumer (D2C) business, and invest in building its brand.
“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.
Kisah Apparels was started in 2018 by Sarawagi and Yashwi Ladasaria. The brand began by selling mainly on online marketplaces but is now growing into a brand that sells both online and in stores. Right now, it has two physical stores in Kolkata and plans to open three more in other cities across 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% of the company’s revenue in the current financial year, with a more significant increase in contribution expected from FY27 onwards.
Ethnic wear brands that focus on Gen Z and offer a wide range of Indian clothing are catching the interest of venture investors. Industry experts say the branded Indian ethnic wear market is worth INR 30,000–35,000 crore and is growing quickly at a rate of 20–25% each year.
“The age group of 25 to 35 has a strong affinity for ethnic wear. 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.
About 73% of Kisah Apparel’s revenue comes from selling on online marketplaces. Around 15% comes from its direct-to-consumer (D2C) sales, and the rest comes from international markets like the US and the UK.
Kisah Apparels ended the financial year 2025 with revenue of about INR 50 crore, which is more than double the INR 23 crore it made in FY24. The Kolkata-based company is now earning at a pace (run rate) of around INR 90 crore per year.
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.
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