Bootstrapped to Rs 75 cr: How Suta’s sister duo is weaving an IPO dream

One evening, while unwinding with friends at a popular lounge in Bengaluru’s upscale Indiranagar—the Suta sisters found themselves gazing across the street at a charming building. “We were just sitting there, and we said, ‘One day, we’ll open a store right there,’” It felt like a scene straight out of a Bollywood film—bold, spontaneous, and slightly surreal. “We’d never seen such a beautiful space,” they recall and months later that exact spot became home to Suta’s first offline store.

Suta, the Mumbai-based brand is reimagining Indian handwoven sarees for the contemporary consumer—blending timeless craftsmanship with modern aesthetics. Catering to those who seek elegance without heavy tradition. Co-founded by sisters Sujata Biswas and Taniya Biswas in 2016 with Rs 6 lakh, the brand recently launched its 15th store in Bengaluru. While talking to Business Today, the Biswas sisters revealed how the online-first brand emerged after they left their jobs and now eye IPO not immediately but definitely.

Suta crossed Rs 75 crore revenue as of March 2025 which is similar to what it generated in 2024 and while the company is profitable, the profits narrowed in last financial year to which the sisters say they it was not because of the tremendous offline expansion they did in last two years but a few “wrong decisions” like a few launches, hires, etc that didn’t go as expected.

Playing heavily on the franchise-led offline model which costs between Rs 30-Rs 35 lakh along with a revenue share, Sujata says that this model works best as there’s not heavy investment upfront.

“We are a bootstrapped company and while in the future we may seek a VC route, we don’t want to be a brand that opens and closes stores in a blink of an eye,” says Taniya. The brand has a few loans in its balance sheet which they are using for expansion.

Suta, originally known for its sarees, has diversified its product range to include menswear, kidswear, and accessories, offering customers a broader selection. At present managing over 5,000 SKUs and working with 17,000 artisans and making curated launches roughly thrice a month.

Their saree prices start at approximately ₹1,500 and can go up to ₹50,000, catering to a wide spectrum of consumers.

According to a report by Ajmera Fashion, the Indian saree market is currently valued at $6.3 billion. In the global context, India is a leading exporter of sarees, with annual exports exceeding $300 million. While legacy brands like Nalli and Kalanjali have long dominated the market, emerging startups such as Indian Ethnic Co and Shobitam are making notable inroads, capturing the attention of younger, digitally savvy consumers.

The co-founders acknowledge that progressing from ₹75 crore to ₹100 crore in revenue presents its own set of challenges, but they are enthusiastic about embracing them. Looking ahead, the Biswas sisters have plans to expand their brand by opening additional stores and exploring international markets, aiming to bring their unique blend of tradition and contemporary design to a global audience.