Kiaasa Retail Sets Ambitious Goal of 250 Stores in 3 Years

Kiaasa Retail, an ethnic wear retail brand that was listed on exchanges earlier this week, plans to double its sales network by having 250 stores in the next three years, informs Chairman and MD, Mr Om Prakash.

"We plan to open another 67 to 70 stores in the next couple of years, for which we have raised this fund. However, we have a bigger vision for having a network of 250 stores by FY’29, expanding more deeply inside," he said.

He further highlights, this is the "first phase of our journey" and as part of its expansion, Kiaasa Retail is focusing mainly on tier II & III cities, which are our main customer base now.

The retailer raised ₹69.7 crore through its IPO and was listed on the BSE SME platform on Monday. Currently, the brand operates over 122 stores across India.

The company also plans to raise additional funds in the future as required to support further expansion and strengthen product management in line with evolving customer demand.

Terming the listing of Kiaasa Retail as a milestone, he said it will support working capital requirements and expansion plans, enabling to further strengthen our presence in the women’s fashion segment.

"It's just a five-year-old company. It’s a brand that has grown just because of customers' love," he said adding, "There is a great roadmap ahead and we just need to follow step by step and execute, be loyal to the customers and to the stakeholders."

"We are also focusing on the bottom line by maximising the product portfolio and increasing the ASP of the products. So we are focusing more on increasing the bottom line than increasing the top line," he said. The company has a presence in over 70 cities and 16 states.

"Now we just need to keep the momentum but work on the basic things. While we have to work on building the blocks more strongly so that we can sustain in any period of time," he said.Besides physical retail, Kiaasa Retail is also focusing on online sales and the export market.