With 275 stores now, it will tap the franchise route to reach small towns and cities
Women’s ethnic-wear brand Biba Apparels plans to tap the franchise route to expand into small cities and towns. A majority of these would be for its mass to premium brand – Rangriti – aimed at the young audience.
According to Siddharth Bindra, MD, Biba, the company is looking to add 100 outlets this year, of which 60 will be under Rangriti. It currently has 275 stores across the country with under the Rangriti brand and a majority are Biba outlets.
Nearly 90 per cent of the Biba stores are company-owned. It is open to converting some of its existing exclusive stores to franchise outlets depending upon the location and feasibility.
The company plans to add another 125-150 stores, taking the total store count to 500 in the next two years. The entry price point for a Biba apparel is close to ₹1,000 per piece and goes up to ₹25,000; while that for Rangriti is around ₹600 going up to ₹3,500. Online sales currently accounts for nearly 15 per cent of Biba’s total sales and Bindra expects it to grow to 20 per cent of overall sales in the next 2-3 years.
Biba, which was primarily into women’s ethnic wear, has diversified its product offerings and added kidswear, formal as well as casual wear.
“We were initially only into salwar kameez, but then later we realised the need and expanded our product offerings. We have also recently ventured into accessories such as fashion jewellery and footwear,” he said.
The company is also looking to add bags to complete its accessories range in the next 12-18 months.