Koskii Company Profile

Background

Koskii, established in 2016, is a Bengaluru-based women's occasion-wear brand specializing in ethnic attire such as lehengas, sarees, salwar suits, gowns, and fusion ensembles. The name "Koskii," meaning "girl" in the Navayati language, reflects the brand's commitment to empowering modern women by offering elegant and high-quality clothing for various occasions, from festivals to weddings. With a heritage rooted in a 150-year-old family history in the textile industry, Koskii has evolved into a prominent player in the ethnic wear market.

Key Strategic Focus

Koskii's strategic objectives include expanding its offline retail presence, enhancing its online platform, and investing in proprietary technology to streamline operations. The brand targets women aged 18 to 35, offering a diverse range of ethnic occasion wear that blends traditional craftsmanship with contemporary designs. By leveraging technology, Koskii aims to optimize its supply chain and improve customer engagement, thereby strengthening its position in the competitive ethnic wear market.

Financials and Funding

In June 2023, Koskii secured ₹61 crore (approximately $7.4 million) in a Series A funding round led by Baring Private Equity Partners India. The capital is earmarked for expanding offline stores, enhancing the online presence, investing in technology platforms, and recruiting new talent. Prior to this funding, Koskii operated as a bootstrapped company with an annual recurring revenue exceeding ₹100 crore.

Technological Platform and Innovation

Koskii integrates technology into its retail operations to enhance efficiency and customer experience. The company has implemented tech-enabled buying and distribution processes, optimizing its supply chain management. Additionally, Koskii's e-commerce platform has successfully delivered orders to over 10,000 pin codes across India, reflecting its robust online presence.

Leadership Team

Umar Akhter: Co-founder and CEO, leading the company's strategic vision and growth initiatives.

Sameen Eajaz: Co-founder and COO, overseeing operational efficiencies and expansion strategies.

Haroon Rashid: Co-founder and Chief Product Officer, responsible for product development and design innovation.

Ayesha Saubia: Co-founder, contributing to brand development and market expansion efforts.

The leadership team collectively brings a wealth of experience in retail, operations, and product design, driving Koskii's growth and market presence.

Competitor Profile

Market Insights and Dynamics

The women's ethnic wear market in India is valued at approximately ₹75,000 crore, with the occasion wear segment accounting for about ₹35,000 crore. Despite the presence of organized players, the market remains fragmented, offering significant growth opportunities for brands like Koskii.

Competitor Analysis

Key competitors in the women's ethnic occasion wear segment include:

Meena Bazaar: Offers a wide range of traditional and contemporary ethnic wear, with a strong retail presence across India.

Neeru's: Specializes in bridal and festive wear, known for its extensive collection and quality craftsmanship.

Soch: Provides a blend of traditional and modern designs, catering to a diverse customer base.

Mohey: Focuses on bridal wear, offering a curated selection of lehengas and sarees.

These competitors have established significant market shares through extensive retail networks and strong brand recognition.

Strategic Collaborations and Partnerships

In June 2023, Koskii raised ₹61 crore in a Series A funding round led by Baring Private Equity Partners India. The funds are intended to expand offline stores, enhance the online presence, invest in technology platforms, and recruit new talent.

Operational Insights

Koskii's strategic focus on integrating technology with retail operations provides a competitive edge in managing a fragmented supply chain. The brand's omnichannel presence, encompassing both physical stores and a robust online platform, enables it to reach a wide customer base. By offering a diverse range of high-quality ethnic wear, Koskii differentiates itself in the market, appealing to modern women seeking stylish occasion wear.

Strategic Opportunities and Future Directions

Koskii plans to expand its offline store footprint into new cities while strengthening its online presence to cater to a broader audience. The company is also exploring international markets, aiming to establish itself as a global brand for ethnic occasion wear. Investments in technology and team development are expected to drive innovation and operational efficiency, positioning Koskii for sustained growth in the competitive ethnic wear market.