Biba plans to open some 200 new stores across India by 2020. The brand currently operates 250 exclusive brand outlets. Biba is a women’s ethnic wear brand. In Tamil Nadu alone the brand has 15 stores. Chennai, Madurai, Salem, and Coimbatore are the major locations where the brand has a presence.
Currently, Biba earns 15 to 17 per cent sales from online channels and from its own site. However, from its own site, the sales percentage is between four to five per cent. Among its offerings are anarkalis, peshwai kurtas, skirts, tunics, and kurta dresses. The company is growing its revenues annually at 30 to 35 per cent.
Rangriti, a value fashion brand from the same company, launched in 2015, is looking to triple business from the current Rs 100 to Rs 300 crores. There are about 44 stores under Rangriti. The brand has a focus on Tier II and III cities and is also sold through online platforms and multi-brand outlets. The ethnic wear industry is around Rs 70,000 crores, although 70 per cent of the market is dominated by unorganized players. The industry is expected to grow at a CAGR of nine per cent till 2019.