Meet Umar Akhtar who started his Entrepreneurial journey at the age of 16 and now he own ₹35 crore ethnic wear brand.

What is the story of Umar Akhtar and his brand "koskii"?

Umar Akhtar is the founder of the ethnic wear brand "koskii". He started his entrepreneurial journey at the age of 16 when his family was facing financial difficulties due to debt. They decided to start their own saree shop in Kolar, Bengaluru, which they named "Meena Bazaar." The business started slowly but soon began to earn them Rs 1000 per day.

Umar pursued his post-graduation in Kolar and became the topper of the institute. His grandfather wanted to expand the business to Dubai, but Umar's father suggested that he should pursue further studies. Later, Umar learned about Oracle and Java and got a job in a software development company. His skills helped him lead the team, and he got the opportunity to travel across 52 countries.

In 2009, Umar decided to expand the "Meena Bazaar" brand and opened a new store in Shivaji Nagar, Bengaluru, with his brother. The store received an excellent response from customers, and they decided to open more stores. In 2013, they opened a store in Chickpet, which is now famous as a one-stop-shop for occasion wear. In 2014, Umar decided to become a full-time entrepreneur and opened another store in Commercial Street.

Initially, the brand was promoted using various channels, like radio, but the customers got confused with the name "Meena Bazaar," as there were many shops with the same name. So, in 2016, Umar rebranded all the stores with the name "koskii."

From 2017 to 2018, koskii expanded to Phoenix Mall, Mantri Square Mall, and 15,000 sqft Koskii Tower on Kamraj Road, Bengaluru. In 2019, the brand opened its first store outside of Bengaluru on Cathedral Road, Chennai. Koskii now showcases lehengas, sarees, dresses, gowns, fabrics, and more.

Koskii's growth has been steady over the years, and in 2019, the company received $35 crore and plans to mark Rs 50 crore for the current financial year. Umar says the market for women's ethnic clothing is estimated at Rs 75,000, with half the cost of the event costing almost Rs 1.35 lakh. Most of the big organized players like Meena Bazaar, Neeru's, Soch, Mohey, and the whole set calculate about Rs 200 crore.

Hope you enjoy to read startup stories. If you like it then follow us and do comment your opinion about startup.

Thanks for reading...