Biba to double exclusive stores by 2020

Women's ethnic wear brand Biba Apparels is set to add another 200 new stores under its flagship brand Biba across the country over the next three years. Siddharth Bindra, Managing Director says Biba is flagship brand, and it is looking to nearly double the stores from the present 246 stores.

The company is also looking to triple business of its value fashion brand Rangriti, launched in 2015, from the current Rs 100 crore to Rs 300 crore. However, Bindra did not put a figure to the investments the company is making into these brand extensions and expansions.

Revenue is growing annually at 30-35 per cent, and is expected to close this year with revenues of more than Rs 600 crore Bindra said. He further said expansions will further help it maintain growth momentum.