Biba Apparels Announce Grand Expansion Plans for 2018-21 phase

Biba Apparels that has made a major dent in women’s apparel brand has informally announced the setting up of 200 new stores in its flagship brand Biba. The brand enjoys a pan Indian presence and is planning to implement its expansion drive over the next three years.

Another of Biba Apparel’s fashion brands, namely Rangriti has also been earmarked for expansion with the company looking to triple its business for this brand. The brand was originally launched in 2015. The expansion plan envisages taking the value of the corpus from INR 100 Crore to INR 300 crore.

Siddharth Bindra, MD Biba Apparels said,"Biba is our flagship brand, and we are looking to nearly double the stores from the present 246 stores." He added, “Our company typically opens about 30-40 Biba stores every year. We currently have about 44 stores under Rangriti, and are looking to triple this business to Rs 300 crore over the next few years."

He stated that, the brand Rangriti commenced as a value fashion brand and has succeeded in doubling its standalone stores in the previous two years. The brand focuses on tier II and tier III cities. The sales also take place through online platforms and multi-brand outlets.

Apart from its expansion on these counts, Biba has paid special attention to kids by launching standalone kidswear stores under Biba Kids. Currently it has five stores. According to Bindra the five stores will mount to around 15 to 20 stores over the next three years.

Later in the year, a possible expansion in the area of fashion jewellery will also be envisaged. The Biba stores will promote retail sales of the same. However, when asked about the investments the brand is making into the investments and extensions, the Biba MD refused to quote a figure.

Currently, the company is growing its revenues on an annual basis at approximately 30 to 35 percent. Bindra said, “We expect to close the revenues upward of INR 600 crore. Our expansion plans will help us to maintain the growth momentum.”