Established in 1986, BIBA Apparels has grown into one of the largest organized women and girls’ ethnic wear manufacturers in India with over 330 points of presence across exclusive brand outlets, shop in shops and leading e-commerce portals across the country. The company pioneered the shop in shop format in the late 1990s in India and was among the first players to develop a marketing strategy of association with the Indian film industry in early 2000s.
This investment will enable the company to evolve into a ‘Fashion House’ catering to all ethnic wear requirements of women and girls across income levels, in India and abroad. It plans to expand its distribution network and strengthen its presence in the higher-end fashion category through new product launches and JVs with acclaimed designers. It also plans to launch a value brand to enhance its presence at lower price points.
Speaking on the occasion, Mr. Siddharath Bindra, Managing Director, BIBA, said, “I am very happy to be able to provide a healthy exit to Future Lifestyle Fashions Limited, who has been an excellent partner to the company so far. I am also very excited to now have as partners Warburg Pincus and Faering Capital, as we scale up BIBA to the next level.”
Mr. Kishore Biyani, Group CEO, Future Group, said, “We have had an exciting journey being part of the growth of BIBA being led by the entrepreneurial energy of Ms. Meena Bindra and Mr. Siddharath Bindra and we are happy that the brand will now have the support and expertise of Warburg Pincus & Faering Capital to take it to the next level. India is just witnessing the emergence of large fashion brands and we are quite sure BIBA will play a major role in this journey in the years to come.”
Mr. Vishal Mahadevia, Managing Director and Co-head India, Warburg Pincus, said, “Warburg Pincus’ investment in BIBA reflects its recognition of the company's high-quality management team led by Siddharath Bindra. Over the last two decades, BIBA has built a leading women’s ethnic wear brand in an industry that continues to demonstrate positive growth trends. We are excited to partner with BIBA’S management team as they continue to grow the business going forward.”
Mr. Sameer Shroff, Managing Director and Co-founder, Faering Capital, said, “Mr. Siddharath Bindra and the team at BIBA have built a fantastic market-leading brand and a high-quality organisation that is poised to further capitalize on the growth of branded women/girls’ ethnic wear in the country. We look forward to partnering with them in their next phase of growth”
“BIBA, a clear leader in its space, has partnered with Warburg Pincus and Faering Capital in a win-win transaction for all” said Mr. Ajay Garg, Managing Director, Equirus Capital Pvt. Ltd. Equirus Capital acted as the exclusive financial advisor to BIBA and Future Lifestyle Fashions for the transaction.
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