Ajmera Fashion to capture Tier II growth with domestic footprint expansion
17 April 2026, Mumbai
Surat-based ethnic wear powerhouse Ajmera Fashion has announced an aggressive retail roadmap, aiming to expand its domestic footprint to over 400 stores by the end of March 2027. Currently operating approximately 250 outlets, the company is shifting its commercial focus from traditional wholesale dominance to a high-velocity, franchise-led model. This expansion is timed ahead of a planned SME Initial Public Offering (IPO) slated for the latter half of FY 2026-27. To fortify its capital base for this transition, the firm is exploring a pre-IPO private placement, with industry valuations currently positioning the company at approximately ₹300 crore.
Fiscal performance and ethnic wear market dynamics
The retail push aligns with a significant uptick in the company’s financial trajectory. Ajmera Fashion projects, revenue in FY2025-26 will reach Rs 200 crore, representing a 36 per cent increase from the Rs 147 crore recorded in the previous fiscal year. Profit after tax (PAT) is expected to expand to Rs 10–11 crore, supported by the rising demand for ‘wearable luxury’ and fusion silhouettes. As the Indian ethnic wear market is valued at over Rs 1.5 lakh crore, Ajmera is leveraging its multi-format brands - including Ajmera Trends and Little Wings - to penetrate Tier-II and Tier-III cities, where organized retail penetration is currently accelerating at a CAGR of 8.1 per cent.
International expansion and entrepreneurial ecosystems
Beyond domestic borders, the firm is utilizing its logistics hub in Surat to service demand in over 30 international markets, with Nepal serving as the immediate launchpad for its children’s wear division. The company aims to convert retail aspirants into profitable business owners through a 'business-in-a-box' solution, states Ajay Ajmera, Founder and CEO. By integrating more than 10,000 women into the formal apparel economy via home-based enterprise modules, the company is capitalizing on the rising ‘she-economy.’ This localized approach effectively bypasses distribution bottlenecks, ensuring that regional craftsmanship meets global quality benchmarks while sustaining high-volume middle-market growth.
Established in 2011, Ajmera Fashion is a Surat-based textile leader specializing in ethnic wear, including sarees and lehengas. Serving 30+ international markets, the company utilizes a franchise-driven model to empower small entrepreneurs. With a projected FY26 revenue of ₹200 crore, it plans a 400-store expansion and a 2027 SME IPO.
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