BIBA aims Rs1000 crore sales by 2018, to launch designer wear this Diwali

By

Maverick Martins

Published
May 5, 2017

Indian ethnic wear brand BIBA aims to achieve a sales target of Rs 900-1000 crore by financial year 2017-2018 and has plans to launch Biba by Manish Arora this Diwali.

“As a company we are growing at a rate of 30-35% CAGR in the last 7-8 years and we are targeting sales of 900-1000 cr for financial year 2017-2018,” Siddharth Bindra, managing director, BIBA told the Economic Times.

Currently, BIBA earns 15-17% sales from online channel including marketplaces and from their own site. However, from its own site, the sales percentage is between 4-5%.

“We will keep adding new products category within the brand. In Diwali, we are planning to launch Biba by Manish Arora, thus giving our customers a wide variety of choices in the affordable designer wear section,” he added further.

“We are expecting a lot of developments in the branded apparel section in next 4-5 years and hope the implementation of GST will accelerate it further. But we have no plans to venture into western wear segment,” he clarified.

BIBA also plans to open 10-12 stores in the coming 6-12 months under BIBA Girls’ brand which exclusively caters to young girls aging between 2-15 years.