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Kotak was born on 26 May 1982 in North West London, England

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Her father is from Gujarat and her mother is from East Africa.

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Her immediate family lives in London and consists of her mother and a younger brother named Sunny Kotak.

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She did a part of her schooling from a boarding school

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She later pursued a degree in Bachelor of Arts in Advertising and Marketing

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Initially, she wanted to become a teacher and had enrolled for a course in teaching.

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Karishma began her modelling career at the age of 16 and worked for an adult magazine like Just Seventeen and other projects in Essex.

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When she was around 20, she visited India and realized the huge potential that the Indian fashion had to offer.

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In the meantime, she continued doing projects and fashion shows in the UK including regional campaigns.

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She did catalog work for brands like Toni & Guy and FCUK. In 2004, she walked the ramp for the London Fashion Week.