Megha Rao spent nearly 15 years building a stable career at Citigroup before making a life-changing decision. After years of balancing corporate finance, motherhood and entrepreneurship together, the Queens-born entrepreneur quit Citi to focus fully on holiCHIC, the fashion label she started with just $5,000.
The decision came after the Covid-19 pandemic transformed her business. What began as a small side project in 2015 grew rapidly during the pandemic years and later became a multi-million dollar fashion brand with national retail distribution through Nordstrom and Amazon Fashion.
Rao, the daughter of Indian immigrants, grew up in Queens, New York, surrounded by two cultures. Indian traditions, fabrics and embroidery shaped her home life, while New York’s fast-moving culture influenced her personal style.
Over time, she realised there were very few American fashion brands that mixed South Asian craftsmanship with modern Western silhouettes in everyday fashion.
Megha Rao’s fashion career
Before launching holiCHIC, Rao built a career in finance. She graduated from Hofstra University in 2004 with a bachelor’s degree in communications and media studies. She later joined Citigroup, where she spent years working in finance, strategy and operations, reported Entrepreneur News.
At the same time, Rao stayed connected to fashion. For nearly 10 years, she walked runways for some of India’s top designers. Modeling gave her a close look at fashion production, fabrics and customer preferences. The experience later helped shape her own business vision.
In 2015, Rao launched holiCHIC from her basement while becoming a first-time mother. She built the brand as a side hustle while continuing her full-time finance career. Her days often stretched late into the night as she handled meetings at Citi, raised a young child and managed customer orders after work.
Rao started the business with $5,000 of her own savings. She designed collections herself and stayed closely involved in sourcing, marketing and operations. The company focused on combining Indian embroidery and textiles with modern cuts designed for women in the United States.
For years, Rao managed two demanding careers together. During office hours, she worked in corporate finance. At night and on weekends, she built holiCHIC piece by piece. The brand slowly developed a loyal customer base.
How did pandemic change holiCHIC?
The Covid-19 pandemic changed the company’s future. Weddings, parties and huge events stopped during lockdowns, which affected many fashion brands. In view of the pandemic, Rao changed her business strategy to keep holiCHIC growing.
Rao started selling face masks made with Indian fabrics. She later launched comfortable loungewear for customers who stayed at home. Many people liked the products which led to rapid online sales.
Since 2021, holiCHIC has grown by over 300%. The company reached many new customers outside its original audience.
Over the next five years, holiCHIC grew five times bigger and recorded almost 100% sales growth every year. The company crossed $1 million in sales and entered major retail platforms like Nordstrom and Amazon Fashion.
The brand also started getting attention from celebrities. Actors including Mindy Kaling, Poorna Jagannathan and Richa Moorjani wore holiCHIC designs.
When Rao entered the fashion industry, South Asian representation in mainstream American fashion remained extremely limited. Most Indian-inspired clothing in the US focused mainly on bridal and wedding wear. Rao saw a larger opportunity in everyday fashion that reflected South Asian culture without looking overly traditional.
That market gap became the company’s biggest advantage. holiCHIC appealed to South Asian women who wanted stylish clothing connected to their heritage.