Luxury beauty brand Kimirica raises $15M from Carnelian Ventures, led by Vikas Khemani
The company plans to scale its revenue from Rs 300 crore to Rs 1,000 crore over the next three to four years and strengthen its B2B hospitality arm, Kimirica Hunter, and its D2C brand Kimirica Lifestyle.
Kimirica, a homegrown luxury beauty and hospitality brand, has raised around $15 million in funding from Carnelian Asset Management LLP, led by capital markets veteran Vikas Khemani.
The company plans to scale its revenue from Rs 300 crore to Rs 1,000 crore over the next three to four years and strengthen its B2B hospitality arm, Kimirica Hunter, and its direct-to-consumer (D2C) brand Kimirica Lifestyle.
Founded in 2013 by Mohit Jain, Rajat Jain, Kimi Jain, and Rica Jain, Kimirica began as a bootstrapped venture aiming to localise hotel toiletries production in an import-heavy market. At the time, nearly 90% of hotel amenities were sourced from China, says the company. Today, Kimirica exports to over 70 countries and supplies to over 10,000 luxury hotels and airlines, including Marriott, Hilton, Hyatt, Accor, Leela, and Air India.
"Kimirica has built an exceptional business model, seamlessly combining its manufacturing expertise with its design charm to create a global hospitality leader and a scalable luxury D2C brand. Their clarity of vision and disciplined execution make them one of the most exciting companies today. We're proud to partner with Mohit, Rajat, and the entire Kimirica team in this transformative journey," said Vikas Khemani.
In recent years, Kimirica has expanded into the consumer retail space with a range of vegan, cruelty-free, and fair-trade-certified products across skincare, body care, fragrances, gifting, and home wellness. The brand ranks among the top sellers on Nykaa, Amazon, Tira, and quick-commerce platforms, and is growing its retail footprint in India and the Middle East, with plans to open 10+ new experiential stores.
The company is investing in a 6 lakh sq. ft. integrated manufacturing facility in Indore, which it says will be one of the largest in South Asia in its category. The plant is designed to produce goods worth ₹1,500 crore–2,000 crore annually, with a focus on exports to the United States, Middle East, and Europe.
"We are excited to welcome Carnelian onboard. This partnership is rooted in a shared vision for growth. Their experience and understanding will help us accelerate our journey in the D2C space, scale our omnichannel retail presence, and bring Kimirica's self-care experience to more consumers, faster than ever," said Mohit Jain, Co-founder, Kimirica.
Edited by Swetha Kannan