Wow! Momo’s Sagar Daryani Leads Strategic Investment in Ethnicwear Brand
Men’s ethnicwear brand Kisah Apparels has secured ₹13 crore (approx. $1.52 million) in a pre-Series A funding round. The round was spearheaded by Sagar Daryani, co-founder of Wow! Momo, with participation from investors including Apoorv Salarpuria, Rahul Todi, Vinod Dugar, and Inflection Point Ventures (IPV).
Capital to Power Offline Retail, D2C, and Brand Building
The fresh capital will be deployed to expand Kisah’s offline retail presence, scale direct-to-consumer (D2C) operations, and invest in brand marketing. With a growing interest in fusion and festive menswear, the brand aims to capitalize on emerging consumer demand through a stronger omnichannel footprint.
From Marketplace Model to Omnichannel Brand
Launched in 2018 by Yash Sarawagi and Yashwi Ladasaria, Kisah began as a marketplace-first brand, selling high-fashion ethnicwear targeted at millennials and Gen Z. Today, the company is evolving into a full-scale omnichannel brand, with a focus on both physical stores and a growing D2C ecosystem.
Currently, Kisah operates two retail stores and has announced plans to open three new outlets in Delhi, Mumbai, and Hyderabad in the coming months.
Profitable Growth Driven by Smart Data Systems
Unlike many fashion startups chasing scale at high burn rates, Kisah has maintained positive operating cash flow and profit after tax (PAT). The company claims to have grown from a turnover of ₹40-45 crore last year to a current run rate exceeding ₹100 crore.
This success is underpinned by a proprietary data analytics system that tracks performance across marketplaces and D2C platforms. The data is used to fine-tune product designs, optimize inventory, streamline supply chains, and run more targeted marketing campaigns.
“E-commerce gave us pan-India reach and deep customer insights, which are now fueling our D2C and offline growth, backed by data, customer pull, and positive cash flow at the company level,”, Yash Sarawagi, Co-founder & CEO, Kisah Apparels
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Investor Backing Reflects Market Confidence
Investor interest in Kisah reflects a growing belief in the potential of affordable, stylish men’s ethnicwear. Lead investor Sagar Daryani commented:
“Kisah’s blend of fashion-forward design and tech-driven operations is exactly what India’s retail sector needs. Their omnichannel strategy, focus on profitability, and understanding of their audience make them one of the most exciting brands in the fashion space right now.”
Inflection Point Ventures, known for investing in high-growth startups such as FabAlley, Oye Rickshaw, and BluSmart, brings both strategic expertise and network support to Kisah’s growth plans.
Tapping a $20 Billion Market Opportunity
India’s ethnicwear market is valued at over $20 billion, and while women’s ethnicwear has seen dominant players emerge, men’s ethnicwear remains under-served. Kisah addresses this gap by offering modern, accessible, and high-quality ethnic fashion tailored for younger, style-conscious consumers.
Their product range includes kurtas, bandhgalas, sherwanis, and Indo-western fusion pieces, with pricing aimed at being aspirational yet affordable for urban and semi-urban audiences.
National and Global Ambitions
With the wedding and festive season approaching, Kisah is preparing for increased demand by ramping up production, streamlining logistics, and investing in customer experience enhancements.
The brand also has international aspirations, eyeing the NRI and South Asian diaspora markets in countries like the UAE, UK, Canada, and the US through its digital storefronts.
“We’ve always believed in building a business that’s data-backed, consumer-first, and financially sustainable,” said Sarawagi. “This round gives us the resources to go deeper, not just wider.”
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