Biba Apparels to open 100 new stores this year
today Apr 17, 2019
Women’s ethnic wear brand Biba Apparels will expand its retail presence with the addition of 100 new stores this year with a focus on small cities and towns across India.
The company is looking to make deeper inroads into the premium segment and 60 out of the 100 stores planned will be for its premium wear brand ‘Rangriti’. Biba is also exploring to take the franchise route for expansion as it aims to touch 500 stores over the next two years.
“The company is looking to add 100 outlets this year, of which 60 will be under Rangriti. Nearly 90 percent of the Biba stores are company-owned. We are open to converting some of its existing exclusive stores to franchise outlets depending upon the location and feasibility,” Siddharth Bindra, managing director of Biba, told Businessline.
Biba, which means “pretty girl” in Punjabi, launched by Meena Bindra in 1982, has already reached a top line of Rs 500 crore ($70.4 million). It currently has 275 stores across the country under the Rangriti brand and a majority are Biba outlets.
Biba also sells through its own portal and online e-commerce websites like Amazon, Flipkart, Myntra, Jabong, Shoppers Stop, and others which contribute 15 percent to the company’s overall sales.
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