One of India’s top fast-fashion ethnic wear brands, Libas, has closed its first round of outside investment. The ICICI Venture-managed IAF Series 5 fund gave the company ₹150 crore. Libas’ omnichannel approach will be greatly strengthened by this investment, which will accelerate its objectives for growth into both online and offline retail channels.
Fueling Omnichannel Growth
Libas plans to strengthen its omnichannel footprint by utilizing the recently obtained funds. In order to do this, the firm plans to build a strong network of exclusive brand outlets (EBOs) and increase the number of big format stores and multi-brand outlets it operates in major Indian cities as well as tier 1, 2, and 3. Libas will be able to serve a larger client base thanks to this calculated approach, offering a smooth purchasing experience regardless of the customer’s preferred channel.
Building a True Omnichannel Business
Libas aspires to create a unified omnichannel experience by capitalizing on its strengths across various aspects of its business. This includes leveraging its brand recognition, design capabilities, robust technology infrastructure, and established supply chain network. By strategically integrating these elements across all channels, Libas aims to provide customers with a cohesive and convenient shopping experience.
Investment Fuels Expansion Across Categories and Geographies
According to Sidhant Keshwani, the founder and CEO of Libas, “the organized Indian apparel sector is poised for significant growth in the coming years.” “We will use this funding to further expand into new product categories and geographic areas. Our main goal is to provide our consumers with a robust omnichannel experience.”
Bootstrapped Startup Crosses ₹500 Crore Revenue Mark
Libas was a bootstrapped startup until it obtained this outside finance. In spite of this, the business exceeded the ₹500 crore sales threshold in FY24, demonstrating outstanding achievement. Notably, Libas’s own direct-to-consumer (D2C) channels account for a sizeable amount of this revenue, underscoring the brand’s robust online presence.
Libas: A Strong Online and Offline Presence
Libas has established a strong presence in the retail industry, both online and off. The company has a significant online presence on well-known e-commerce sites like Myntra and Flipkart. Libas’s extensive network of EBOs, big format stores, and multi-brand outlets is enhanced by this internet accessibility. Customers may readily acquire Libas products through their preferred channel thanks to this strategic combination.
Catering to Modern Indian Women with Style and Affordability
Libas provides a well-selected assortment of chic ethnic apparel and cozy fusion silhouettes. The designs of the brand are intentionally crafted to align with the goals of contemporary Indian women. Libas serves a wide clientele of women of all ages and prides itself on providing products and services that are both affordable and of high quality. Their collections ensure that Libas consumers may feel and look their best by offering the ideal balance of classic elegance and modern flair.
The market for ethnic wear in India is expanding significantly due to rising disposable income and an increasing inclination among Indian women for fashionable ethnic wear. Libas’ omnichannel presence, high brand recognition, and dedication to innovative design put it in a strategic position to profit from this growing market. Libas is set to take the lead in the Indian ethnic wear market with the help of this fresh finance.
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