Libas continues its growth in Southern India with the launch of a new flagship store in Hyderabad, aiming to cater to modern Indian women and expand its market presence.
Libas, a prominent name in India’s fast fashion industry, has inaugurated its newest flagship store at the Sarath City Capital Mall located in Hyderabad. This expansion marks a significant effort by the brand to enhance its presence in Southern India, aligning with its strategic growth plans. The store spans a total area of 4,000 square feet, showcasing Libas’ extensive fashion collection aimed at delivering a premium shopping experience tailored specifically for modern Indian women.
Sidhant Keshwani, the Founder & CEO of Libas, stated, “We are expanding our presence in Southern India, and Hyderabad is a key market for us.” This newly opened store represents Libas’ first foray into the Hyderabad market, with intentions to establish several more outlets in the city over the next year.
Keshwani attributes the brand’s growth to its unique selling proposition centered around fast fashion, explaining, “Our USP is fast fashion. We are not niche-based; we are fashion-based. We quickly get the latest trends into our stores.” This approach has resonated well with consumers, as evidenced by the brand’s performance in the e-commerce sector.
Emphasizing the brand’s online success, Keshwani remarked on the company’s e-commerce results, “Our business has been doing well, especially on e-commerce sites. We saw a slight dip after Diwali, but March onwards, it’s been amazing again.” He highlighted the ambitious nature of the brand’s expansion plans, revealing, “We have 25-26 branches currently, and we are planning to open 5-6 stores every month. By the end of this financial year, we will have above 80-100 stores.”
In financial terms, Libas projects significant growth for the current year, expecting revenues to reach between 650 to 700 crores. Keshwani indicated, “Last year, we just crossed that mark, and the numbers are yet to be announced.” To fund this expansion, the brand has raised its first round of funding, which is pivotal for scaling operations and establishing new locations.
Libas is not only focused on expanding its retail footprint but is also optimizing its supply chain. The brand maintains a network of suppliers throughout India, with an in-house design team based in Delhi. Keshwani elaborated on their operational model, stating, “Manufacturing is outsourced to various locations.” The company has a workforce of around 1,500 employees and is co-founded by Keshwani and his father, emerging from a family background in the clothing export business.
The brand has embraced modern digital strategies in its marketing efforts, relying heavily on digital platforms for engagement. As Keshwani explained, “We are a digital brand, and most of our marketing strategies are digital. We do influencer marketing, moment marketing, and community building. We don’t do traditional marketing like hoardings, radio, or TV.” He expressed confidence in the future of e-commerce, emphasizing that the sector is poised for substantial growth.
Libas’s infrastructure and strategic positioning in the market underscore its commitment to evolving within the rapidly changing landscape of retail and consumer behavior, particularly in the Indian fashion industry.
Source: Noah Wire Services
