Biba: Targets opening 100 new stores in two years

Monday, 11 June 2012
Biba: Targets opening 100 new stores in two yearsGrowing at a CAGR of 36 per cent in the last five years, and aiming to be an exclusive fashion destination for ethnic wear, Biba, has been wooing young girls and women of all ages with its collection of salwar-kameezs, unstitched fabrics and mix n match range. Elaborating on their future plans Siddharth Bindra, Managing Director, Biba Apparels says, “Last fiscal, we closed at Rs 270 crores and this year we plan to touch the Rs 375 crores mark. We are planning to open more than 100 new stores in the next two years taking our total store count to 200.” They have already opened their first six flagship stores in India. And for the current year, they plan to open 40 exclusive stores out of which six will be Biba flagship stores. These will be operational by Diwali. Some of the new cities that they plan to venture into are: Pathankot, Bhubaneshwar, Ranchi, Jamshedpur, Allahabad and Cuttack. “We are also planning some excellent marketing initiatives and becoming more media active to take the brand to the next level and establish it as a fashion destination and a brand to reckon with.”

Biba,Biba: Targets opening 100 new stores in two years meaning a young, pretty girl in Punjabi is now available across India. As Bindra says, “I have been spearheading the business for around 14 years now and today, we have 150 consumer touch-points through MBOs like Shoppers Stop, Pantaloons, Central and Lifestyle. We have 88 exclusive stores out of which most are company owned. Out of the 42 cities Biba enjoys presence in, roughly one third of our exclusive outlets are in the five major metros, and the remaining in the Tier II and III cities like Ahmedabad, Patna, Lucknow, and Siliguri, Zirakpur Aurangabad, Jabalpur to name a few.” He points out that by 2020, Biba will become a fashion destination for Indian ethnic wear. “It should be top of mind for any woman who wants to buy Indian wear for any occasion. In the next 8-10 years, I anticipate the brand to carve a niche internationally as well.” Realizing the importance of ecommerce platform, Biba is actively exploring options and planning to activate its own site by next year. Currently, it has a partnership with e-retailers like Jabong, Myntra and Future Bazaar.

The brand is positioned as a fashion destination for Indian wear and specializes in elegant ethnic apparels with a modern and contemporary twist. “We keep changing our designs in keeping with global trends and incorporate the strong influences of our rich cultural heritage like hand-block printing with vegetable dyes, embroideries and patterns. We use pure fabrics like cotton, silks, chiffons, georgettes etc, for all our products. The vibrant colors and styles are well suited to the Indian palette.”

Founded by Bindra’s mother, Meena Bindra in 1988 the brand has gained in popularity over the years. Benzer in Mumbai was the first exclusive store to stock Biba designs and the first exclusive brand store was launched in 2004 in Mumbai.