Vikas Khemani’s Carnelian invests $15 Mn in Kimirica

Carnelian Asset Management LLP, led by market veteran Vikas Khemani, has invested around $15 million in luxury vegan self-care brand Kimirica. This partnership backs both wings of the business: Kimirica Hunter (KH), the manufacturer of hotel amenities, and Kimirica Lifestyle (KL), a D2C luxury beauty brand.

The proceeds will be used to scale its omnichannel retail presence, and bring self-care experience to more consumers, Kimirica said in a press release.

Launched in 2013 by Mohit, Rajat, Kimi, and Rica Jain, Kimirica began as a bootstrapped startup determined to disrupt an import-heavy industry where 90% of hotel toiletries came from China. A decade later, Kimirica has brought that number down to almost zero. Today, it exports to over 70 countries and partners with more than 1O,OOO luxury hotels and airlines, including Marriott, Hilton, Hyatt, Accor, Leela, and Air India.

Kimirica has now expanded into the D2C retail space. A vegan, cruelty-free, and fair-trade-certified company, its portfolio covers skincare, body care, fine fragrances, luxury gifting, and home & wellness.

Kimirica claims that it leads the gifting and bath & body segments, and sells products on Nykaa, Amazon, Tira, and quick commerce platforms. Its retail footprint is growing rapidly, with over 10 new experiential stores set to open across India and the Middle East.

The brand continues to expand into high-growth categories: from fine fragrances to its latest men's grooming line, The Gentleman.