Iris Clothings is a children’s apparel company built around a single brand, DOREME, that it designs, makes and sells itself - a shift it made within a year of starting as a contract manufacturer in 2004. From a Kolkata workshop cutting and stitching for other labels, it grew into a listed, nationally distributed kidswear brand by controlling the entire chain from fabric to retail shelf, and it has repeated that approach ever since: own the manufacturing, own the brand, and push the product through a widening network of distributors, shops and digital platforms. # Business segments One engine at national scale - a branded kidswear platform that designs, manufactures and distributes clothing for infants to teenagers, recently extended into men’s and women’s athleisure through an acquisition. ## 1. DOREME kidswear: the group’s sole operating brand and growth platform **A fully integrated children’s apparel brand that makes almost everything in-house, sells through 216 distributors across 26 states, and refreshes 90% of its designs every year to stay ahead of copycat competition.** - **Owns the factory floor** - all cutting, printing, embroidery, stitching and finishing happens in 10 company-operated units across Howrah, West Bengal, giving it direct control over quality and cost rather than relying on third-party job workers. Total installed capacity is 36,000 pieces per day, with utilisation at 75%, and the company has begun adding outsourced categories like jeans where in-house manufacturing makes less sense. - **Priced for the mass market, styled for aspiration** - products range from Rs. 90 for infant basics to Rs. 2,500 for the Disney premium line, so the brand captures both the value-conscious parent and the gifting buyer in the same store. The wide band means distributors can sell across income groups without stocking multiple brands. - **New designs are the moat** - roughly 90% of the catalogue is replaced with fresh designs each year, with only 5-10% of bestsellers repeated, which forces retailers to reorder and keeps the brand from becoming stale in a category where children outgrow both clothes and trends quickly. - **Distributors, not company stores, carry the brand** - the primary route to market is a B2B network of 216 distributors who place orders through a proprietary online platform that handles 70-80% of transactions, so the company gets national reach without the working-capital burden of running hundreds of its own shops. Seven company-owned exclusive outlets exist in East India as brand-building flagships, with a plan to continue with the company-owned model till about 80 stores before allowing franchising. - **Digital channels fill the gaps** - a direct-to-consumer website, a presence on FirstCry (about 10% of revenue), a newly launched D2C platform, and a June 2026 quick-commerce partnership in Bengaluru and Hyderabad put the brand where young parents already shop, complementing the distributor backbone rather than competing with it. ## 2. Disney × DOREME: a licensed premium layer on top of the core brand **A character-licensing deal that lets the company sell higher-priced apparel using Disney and Marvel characters, while the FAMA factory certification opens doors to contract manufacturing for other brands.** - **Characters command a premium** - the Disney line is priced from Rs. 290 to Rs. 2,500, above the core DOREME range, because parents will pay more for a sweatshirt with Mickey Mouse than for a plain one, and the license is exclusive for one segment with annual renewal. - **The factory licence is a second asset** - the FAMA (Facility and Merchandise Authorization) certification means the Uluberia plant meets Disney’s manufacturing and quality standards, so the company can produce Disney-branded goods for other garment firms to sell in their own countries, even though it cannot export Disney products under its own DOREME label. - **Launched in stages to test demand** - a sample showing in Udaipur in January 2023 generated distributor orders, and the first T-shirt shipments went to Rajasthan, Maharashtra, Gujarat and Delhi by April 2023, followed by winter wear in July 2023, proving the concept before scaling. ## 3. Infinia athleisure: a bolt-on entry into adult apparel **A 51% stake acquired in July 2026 in an established six-year-old men’s and women’s athleisure brand, instantly adding a new customer base and distribution network outside kidswear.** - **Bought, not built** - rather than launching another in-house brand from scratch, the company acquired a controlling interest in Infinia, which already has a loyal customer base, a distribution network and a scalable business model, so the entry into adult apparel is immediate rather than experimental. - **Transforms the company’s identity** - with Infinia, Iris moves from being a pure children’s wear company to a multi-category branded apparel house covering kids, men and women, diversifying its revenue base beyond a single demographic. # Group structure and partners **A single-entity, promoter-led company with no subsidiaries, recently expanded through one strategic acquisition.** - The company has no subsidiaries, associates or joint ventures; it operates as one legal entity listed on the NSE main platform under the symbol IRISDOREME, having migrated from the SME exchange in February 2021. - The promoter group held 67.44% of equity as of March 2021, and the board is chaired by founder Santosh Ladha, who conceptualised the DOREME brand and has over 27 years in textiles. - Related-party entities Iris Fashions Pvt. Ltd. and Iris Apparels Pvt. Ltd. are under common control and provide machinery on hire, but they are not consolidated operating businesses. - The Infinia acquisition in July 2026 is the first external deal that adds a new brand and category to the group, marking a departure from the purely organic growth path the company followed for two decades.