- Meenakshi Kumar |
Women’s ethnic brand Biba is opting for franchises to expand retail in smaller cities across India. These stores would be majorly for its mass to premium brand Rangriti aimed at the young audience. The Biba and Rangriti together have 275 stores as of now. The plan is to open 100 outlets this year, of which 60 will be for Rangriti. The company plans a total store count of 500 in the next two years. Nearly 90 per cent of Biba stores are company-owned. Some existing exclusive stores may be converted to franchise outlets depending on the location and feasibility. Online sales currently account for nearly 15 per cent of Biba’s total sales and the idea is to grow it to 20 per cent of overall sales in the next two or three years.
The entry price point for a Biba apparel is close to Rs 1000 and goes up to Rs 25,000; while that for Rangriti is around Rs 600 going up to Rs 3500. Initially only into salwar kameez, Biba has diversified its product offerings and added children’s wear, formal wear, casual wear, and accessories such as fashion jewelry and footwear. Bags will be added in a year.