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BIBA Apparel picks 26.6% stake in designer brand Anju Modi
23
Oct '14
BIBA Apparels, an ethnic wear brand and retailer has bought a 26.66 percent stake in Anjuman Brand Designs Pvt Ltd, which designs and markets designer apparels under the Anju Modi brand.

Founded by Chairperson - Meena Bindra in 1986, BIBA retails through 155 exclusive outlets across 65 cities, apart from a presence in retail chains like Shopper’s Stop, Lifestyle, and Pantaloons.

In October 2012, BIBA Apparels signed a strategic partnership with fashion designer Manish Arora to promote the latter’s premium ethnic wear brand - 'Indian by Manish Arora’.

Kishore Biyani led Future Lifestyle Fashions was one of the early investors in BIBA Apparels. Future Lifestyle had first acquired a 6.5 percent stake in 2007, which went up to 25.8 percent in 2011.

Future Lifestyle, however exited last year, by selling its stake to Warburg Pincus and Faering Capital.

Anju Modi is retailed through its flagship store at DLF Emporio, New Delhi and an exclusive store -The Crescent at the Qutub, New Delhi besides various multi-brand stores.

Biba recently launched its online portal to leverage the fast growing e-commerce market space and do maximum business in the ongoing festival season. (AR)

Fibre2fashion News Desk - India


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