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Biba plans EBOs for children

By Meenakshi Kumar

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Women’s ethnic wear brand Biba which launched a children’s line in 2010 will now open exclusive stores for kids. Biba plans to open five such outlets for children’s wear by the end of 2016-17. The brand, which expects to close 2016-17 with a turnover of Rs 700 to Rs 750 crores, is hoping to earn around 10 per cent of its revenue from the kids’ segment.

Currently, Biba sells apparel, including kids’ wear, through 220 standalone stores and 304 multibrand outlets. The company also sells through online marketplaces Myntra, Jabong and Amazon. Overall Biba plans to open 60 stores this year and is expecting to add around 200 new outlets in the next three years. The company will invest Rs 200 crores on store expansion over a period of three years.

Launched in 1988, Biba also operates a brand Rangriti to cater to Tier II and Tier III markets. The kids’ wear market is pegged at Rs 75,000 crores a year, growing at a compounded annual growth rate of 15 per cent. The market is expected to double every five years. Kids’ wear retail is becoming an extension for many brands. Pantaloons ventured into children’s wear and launched Pantaloons Kids in April.

BIBA