Home / Knowledge / News / Fashion / BIBA wants sales to reach Rs 900-1000 crore
BIBA wants sales to reach Rs 900-1000 crore
09
May '17
Courtesy: Biba
Courtesy: Biba
India’s ethnic wear brand BIBA is aiming for sales of Rs 900-1000 crore by 2017-2018. The brand plans to open 10-12 stores in next 6-12 months under BIBA Girls’ brand and intends to increase its market share to five per cent in three-four years from the current one to one-and-half per cent. The country’s ethnic wear industry is worth around Rs 70,000 crore.

“As a company we are growing at a rate of 30-35 per cent CAGR in the last 7-8 years and we are targeting sales of 900-1000 crore for financial year 2017-2018,” said Siddharth Bindra, managing director, BIBA, according to a leading daily report.

The ethnic wear industry is worth around Rs 70,000 crore with 70 per cent of the market being dominated by the unorganised sector. The industry is expected to grow at a CAGR of nine per cent and reach Rs 1,26,210 crore by 2019. BIBA currently holds one to one-and-half per cent of the ethnic wear market and intends to increase it market share to five per cent in the next three-four years.

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

“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. The brand plans to open 10-12 stores in the coming 6-12 months under BIBA Girls’ brand which exclusively caters to young girls in the age group of 2-15 years, Bindra said.

BIBA’s 15-17 per cent of sales comes from online channel including marketplaces and their own site. The sales from its own site are only between four and five per cent. (SV)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Lenzing

Textiles | On 25th Jun 2018

Lenzing launches Veocel nonwoven speciality brand

Leading fibre company, the Lenzing Group has unveiled Veocel, the new ...

Interviews View All

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Urmil Arya

Sushila International, a well established textile organisation established ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search