A second-generation brand involved in various businesses, Libas is poised to grow at 55 per cent this year. The brand maintained a robust 12 per cent growth rate throughout the pandemic period.
Libas aims to close the current year with a Gross Merchandise Value (GMV) of approximately Rs 950 crore, a substantial increase from the previous year's Rs 600 crore.
Libas also plans to open 100 stores in the next year. Over the past two years, the brand established 15 stores besides expanding presence to 500-600 shop-in-shops across India, says Siddhant Keswani, Founder and CEO.
Focusing on three online channels – its official website, Myntra, and Flipkart, Libas has increased the share of its website from 1 per cent to 25 per cent this year. It plans to further scale this upto 45 per cent in the coming year.
Libas products are available in esteemed stores such as Shoppers Stop, Lifestyle, Centro, Reliance Trends, Amantra, and Kala Niketan. Additionally, the brand has a significant presence in smaller mom-and-pop shops across India.
Boasting of an extensive product range with over 4000 SKUs, Libas aims to diversify into various categories in the next one and half years. It also plans to venture into new categories like footwear and handbags.
Libas also plans to focus on personalisation of clothing items in the next year. It has already incorporated AI-driven solutions to connect users with their desired products.
