Biba to Expand Market Share in Ethnic Wear Segment
Ethnic wear brand Biba aims to increase its market share in India from one per cent to around four to eight per cent with a top-line of over R3,000 crore (US$451 million). The brand also plans to open around 200 more stores in the next 3 years.
Despite being one of India’s best known ethnic wear brands, Biba has only one per cent of the total market share. A major reason for this is that the market is mainly made up of small businesses and is largely unorganised. However, Biba believes that this is changing and the fashion is evolving. The brand has a top-line of R500 crore currently, so this would be a large expansion for the business. Biba, which means ‘pretty girl’ in Punjabi, was launched by Meena Bindra in 1982 and the brand has since grown from a onewoman home-run business to an international brand. It has 260 stores in 100 cities in India and is also present in Nepal.