Kimirica, an Indore-based luxury beauty and hospitality brand, has secured approximately $15 million in funding from Carnelian Asset Management LLP, led by capital market veteran Vikas Khemani.
The funds raised will be used to strengthen its business-to-business hospitality division, Kimirica Hunter and expand its D2C brand, Kimirica Lifestyle. Funds will also be used to scale its omnichannel retail presence and enhance consumer access to its self-care products.
Founded in 2013 by Mohit Jain, Rajat Jain, Kimi Jain, and Rica Jain, Kimirica began as a bootstrapped venture to reduce dependence on imported hotel toiletries. At the time of its launch, about 90% of such products in India came from China. Over the years, the company has established a strong manufacturing base and now exports to over 70 countries. Its clientele includes more than 10,000 luxury hotels and airlines such as Marriott, Hilton, Hyatt, Accor, Leela, and Air India.
The company offers a wide range of vegan, cruelty-free, and fair-trade-certified products in skincare, body care, fine fragrances, luxury gifting, and home wellness. In recent years, Kimirica has expanded into high-growth categories, including men’s grooming under the line called The Gentleman.
Kimirica products are sold on major e-commerce platforms such as Nykaa, Amazon, and Tira, as well as through quick-commerce services. The company is also focusing on physical retail expansion with plans to open more than ten experiential stores across India and the Middle East.
Kimirica is developing a 600,000 square foot integrated manufacturing facility in Indore. Once operational, the facility is expected to be among the largest in South Asia in its category and capable of producing goods valued between ₹1,500 crore and ₹2,000 crore annually, with a significant portion aimed at export markets in the United States, Middle East, and Europe.
Mohit Jain, Co-founder, Kimirica, said, “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.”
Vikas Khemani said, “Kimirica has built an exceptional business model, combining manufacturing expertise with design strength to create a global hospitality leader and a scalable luxury consumer brand,” Khemani said. “Their clarity of vision and disciplined execution make them one of the most exciting companies today.”
