Kimaya Fashions Private Limited announced that it has received investment commitment of Rs60cr from Franklin Templeton Private Equity Strategy (FTPES), a rupee denominated private equity portfolio managed by Franklin Templeton Asset Management (India) Private Limited, (FT India), and advised by Darby Asia Investors (India) Private
Limited (Darby India). The transaction details were not disclosed.

Promoted by Pradeep Hirani and Neha Hirani, Kimaya is India’s largest luxury fashion house and operates high-end designer stores, primarily focusing on Indian ethnic women’s wear. It currently manages more than 35,000sqft of premium retail space across India and Dubai.

Having consolidated its position in major metros of the country, Kimaya is now set to expand its footprint to tier two cities. The new pret label will be committed towards making Indian designer wear accessible to a much wider consumer base across the country.

Kimaya also has concrete plans to increase its footprint in the international market by opening company-owned
and franchise stores in the leading fashion destinations of the world.