Rangriti from BIBA opens two new stores

Value-fashion brand Rangriti, from the stable of popular ethnic wear label BIBA opened its first two stores in Yamunanagar and Vizag respectively. Spread over 750 and 900 square feet, both the stores will offer budget ethnic wear range.

While spreading its presence across smaller Indian towns, Rangriti would also be retailed online. The aim is to make Rangriti the fastest growing Rs 100 crores brand at net sale value in the next two years.

Biba is sold on ecommerce platforms Jabong, Flipkart and Myntra and expects revenues from the online segment to grow further. In the financial year ended March 31, 2014, online sales contributed less than five per cent of the company’s overall sales however; it is targeting the medium to contribute around 10 percent in next two to three years.

Biba, founded by Meena Bindra three decades ago, also formed a joint venture with fashion designer Manish Arora to market his premium ethnic wear brand ‘Indian’. Company owns 51 percent stake in the venture. It is looking to ink more such partnerships with designers in the future.