Its mission was to offer fashion at affordable prices

Now our vision is to keep growing and of course, enjoy the journey.

Ethnic exuberance
Biba, the ethnic wear major targets domestic market for expansion.
Tags: Biba, Siddhartha Bindra, ethnic wear
BY NEHA MALHOTRA | OCTOBER 19, 2012 | COMMENTS ( 1 ) |
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Siddhartha Bindra
With its first standalone store having opened in Inorbit Malad, Mumbai in 2004, today BIBA
has 87 stand alone stores across India and plans to reach 150 stores by 2013. Expanding its
wiongs, the brand has created a niche for itself. In an Interaction with Neha
Malhotra, Siddhartha Bindra, Managing Director, BIBA shares the brand's journey.

Neha Malhotra (NM): How would you describe the retail presence of Biba? From where do you
garner maximum revenues?
Siddhartha Bindra (SB): BIBA, with humble beginning in Mumbai, today, has Pan India presence
through 87 exclusive outlets in over 40 cities.
Out of these, roughly one third of our exclusive outlets are in the five major metros, and the remaining
in the tier II & III cities like Ahmedabad, Patna, Lucknow, Siliguri, Zirakpur Aurangabad, Jabalpur to
name a few. Apart from this, we are also available at major retail chains in the country like Shoppers
Stop, Lifestyle, Pantaloons and Central.
While the metros are our largest markets, the brand receives great response from tier I and II cities as
well. Infact, owing to phenomenal response and demand for our products in Gujarat, we have opened
our first flagship store in Ahmedabad.

NM: Looking at the competition struck market, what is the USP of Biba which sets it apart from
the other prominent players?
SB: Biba as a brand stands for variety and affordable designer wear. BIBA clothes are simple,
elegant and stylish. Every month we launch new mix n match collections and 30 new salwar kameez
dupatta designs so that our customers enjoy a wide range of choice. Bibas style echoes the Indian
womans sensibility. The brand has evolved alongside the evolving taste of the consumers.
Biba clothes flatter the Indian womans silhouette rather than trying to make them fit into a particular
style or silhouette. This is the difference between Biba and other brands in the category. This is why
Biba enjoys a wide range of loyal consumers across age groups and body types.
BIBA specialises in ethnic garments with a modern and contemporary look. We keep changing our
designs in keeping with the global trends and incorporating strong influence of our rich cultural
heritage of Hand Block printing with vegetable dyes, embroideries, patterns etc. We use pure fabrics
like cotton, silks, chiffons, georgettes etc. for all our products. The vibrant colours and styles are well
suited to the Indian palette. The emphasis here is on fashionable yet affordable designer clothing.

NM: Where will you focus for expansion? Can you share phase wise growth plans? Did you
indulge in any kind of research before deciding on the same?
SB: We feel we are on the right growth trajectory and want to concentrate on the domestic market for
the time being. We plan to open about 100 odd exclusive stores in the next two years across India,
including tier II & III cities.
For the current year, we plan to open 40 exclusive stores out of which six will be BIBA flagship stores
and will be operational by Diwali. Some of the cities that we have finalised our locations are
Phatankot, Bhubaneshwar, Ranchi, Jamshedpur, Allahabad and Cuttack.
Before deciding on any new launch, we do exhaustive research. Like, we have finalised on the above
centers keeping demand forecast, catchment analysis and government norms for the zone in mind.
Being a pan-India brand, we keep a close watch on demographic growth, nationally. Moreover,
sometimes depending on customers feedback and requests, we plan our launches.

NM: In your opinion, how is the new-age ethnic wear industry growing? What is your
expectation in terms of future overall growth in the sector?
SB: Over the past few years, the ethnic wear category has transformed drastically. The evolution of
fusion wear within the segment and customisation of Indian wear to suit current requirements is giving
the industry significant impetus.
The growth in retail sector coupled with other factors like growing numbers of working women leading
to higher disposable incomes as well as the fact that their mobility leads to salwar kameez dupatta
being the preferred work wear, will further fuel demand.

NM: How do you plan your marketing strategy?
SB: We as a brand have been growing at a CAGR of 36 per cent without much marketing
investments. This year onwards, we have started becoming media active too and are going to be very
visible in print as well as outdoors. We will be present nationally in premium magazines as well as
newspapers. OOH is our lead medium and we are investing in some 12 cities this year.
Our marketing initiatives are based on our brand strategy and the vision for Biba in the next 2-3 years.
We prioritise our markets and then make our investments accordingly.

NM: Since how long has Biba been operational in the country?
SB: My mother Meena Bindra started BIBA from our house in Bombay in 1988, with a loan of Rs
8,000, which my father arranged for her! So, it has been close to two and a half decades, since BIBA
started. However, the first exclusive BIBA store was launched in 2004 in Mumbai.

NM: Who is your target audience? Has it grown over the period of time? Do plan to expand the
same? What is the price range of the products on offer?
SB: Biba caters to Indian women of all ages and of all walks of life homemakers, working women,
college students, among others. A 45 year old woman will also find something she likes in the store
as well as a 20 year old. We have an unmatched range of mix n match category, unstitched fabric,
salwar kameez dupatta and recently introduced BIBA Girls, a dedicated range especially for young
girls aged between 2-12 years.
As I have said earlier, we aim to provide affordable designer wear. The price range at BIBA starts
from Rs 599 and goes up to Rs7999, which I am sure you will agree, is very reasonable for branded
wear.

NM: What is your take on the recent FDI updates that have made waves in the country?
SB: I am neutral about the opening up of the FDI in the retail sector, as I actually do not foresee any
International competition in the category in which we operate in.

Warburg Pincus and Faering Capital invest Rs
300 crore in Biba Apparels
PTI Dec 5, 2013, 06.16PM IST
Tags:
Warburg Pincus|
private equity|
Future Lifestyle Fashions Ltd.|
Future group|
BIBA Apparels

(Warburg Pincus and Faering)
NEW DELHI: Private equity firms Warburg Pincus and Faering Capital have invested about
Rs 300 crore in Biba Apparels, a firm engaged in women and girls' ethnic wear.
"The investment includes a primary fund raise and provides an exit to the existing
investor, Future Lifestyle Fashions Ltd. The transaction is the largest private equity
investment in the Indian ethnic wear market," Biba said in a statement.

On November 12 this year, Future Lifestyle Fashion Ltd (FLFL), part of Kishore Biyani-
led Future Group, had divested its minority stakes in Biba Apparels.
Commenting on the development, BIBA Managing Director Siddharath Bindra said: "I am
very happy to be able to provide a healthy exit to Future Lifestyle Fashions Limited, who has
been an excellent partner to the company so far. I am also very excited to now have as
partners Warburg Pincus and Faering Capital, as we scale up BIBA to the next level."
Warburg Pincus Managing Director and Co-head India Vishal Mahadevia said: "Warburg
Pincus' investment in BIBA reflects its recognition of the company's high-quality
management team led by Siddharath Bindra. We are excited to partner with BIBA'S
management team as they continue to grow the business going forward."
BIBA Apparels, which was established in 1986, has over 330 sales points across the
country.
Warburg Pincus, Faering Capital invest Rs.300 crore in Biba Apparels Biba Apparels says investment
includes a fund raise, providing an exit to investor, Future Lifestyle Fashions PTI inShare 2 2 inShare
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UPAs Warburg Pincus MD and co-head, India, Vishal Mahadevia, said Warburgs investment in Biba
reflects its recognition of the companys high-quality management team led by Siddharath Bindra.
Photo: Mint New Delhi: Private equity (PE) firms Warburg Pincus and Faering Capital have invested
about Rs.300 crore in Biba Apparels, a firm engaged in women and girls ethnic wear. The
investment includes a primary fund raise and provides an exit to the existing investor, Future Lifestyle
Fashions Ltd (FLFL). The transaction is the largest private equity investment in the Indian ethnic wear
market, Biba said in a statement. On 12 November this year, Future Lifestyle Fashion Ltd part of
Kishore Biyani-led Future Group, had divested its minority stakes in Biba Apparels. Commenting on
the development, Biba managing director Siddharath Bindra said: I am very happy to be able to
provide a healthy exit to Future Lifestyle Fashions Limited, who has been an excellent partner to the
company so far. I am also very excited to now have as partners Warburg Pincus and Faering Capital,
as we scale up Biba to the next level. Warburg Pincus managing director and co-head India Vishal
Mahadevia said: Warburg Pincus investment in Biba reflects its recognition of the companys high-
quality management team led by Siddharath Bindra. We are excited to partner with BIBAS
management team as they continue to grow the business going forward. Biba Apparels, which was
established in 1986, has over 330 sales points across the country.

Read more at: http://www.livemint.com/Companies/JzanE0FTmcYwy92LLSHlhI/Warburg-Pincus-
Faering-Capital-invest-300-crore-in-Biba-Ap.html?utm_source=copy

Lisabelle Gonsalves, Team iDiva
QHow did you set up BIBA?
Meena Bindra
AI was a housewife who had never worked before. I had no knowledge or experience in business and I
was not a qualified designer. Also, at that time (the early 1980s), there weren't any courses in fashion
design. People usually bought fabric and had their garments stitched because readymade garments were
rare. But when I told my husband that I wanted to start designing and making ethnic wear, he was
supportive and agreed to get me a loan of Rs.8000 from the bank. I'm not sure why he got me Rs.8000 and
not Rs.10000 or Rs.5000, but eight turned out to be a lucky number for me!

I had my first major break when I found a very good block printer. He was an educated young boy who
understood what I wanted. Soon I began to spend hours everyday at the factory as I enjoyed my work and
also the yummy Gujarati food that he would serve me there.

I started my business with around 40 printed salwar suits that I had priced at about Rs.170. I was making
them for about Rs.100, so I thought I was making pots of money (laughs).


Lisabelle Gonsalves, Team iDiva
QHow was business in the initial years?
Meena Bindra
AI received a good response from people and gradually started increasing my stock. These were fun years
because I got to experiment with various fabrics, cuts, colours and more. A short while after I began, a
small boutique in Mumbai began to retail some of my creations and later Benzer came on board too. I did
not ever have to do any marketing. People just kept coming to me.

The market also opened up and there were retail chains like Shopper's Stop and Pantaloons who
approached me. That's when I realised the importance of professionalism. From pricing to timelines, I had
to be accountable and deliver on time. What's more, they wanted to see different ranges, so I had to be
aware of the fashion seasons too.


Lisabelle Gonsalves, Team iDiva
QWhat was your vision for BIBA right from the very beginning? Did you expect it to become this
big?
Meena Bindra
AWhen I started, I had no long term vision. I simply wanted to keep myself occupied and earn a little extra
money. But growth kept happening. Now our vision is to keep growing and of course, enjoy the journey. We
currently have about 107 stores over 46 cities but we want to open more stores in certain cities as well as
expand to cities where we have no presence. In a year's time, we want to be a 500-crore company.

We also want to launch formal wear, bridal trousseaux and the likes. My aim is to make BIBA the one stop
shop for a woman's ethnic wear needs.


Lisabelle Gonsalves, Team iDiva
QWho does BIBA cater to essentially?
Meena Bindra
ABIBA has a range for girls from the age of 2 to 12 years and our range for adults can be worn by women
right from 20 to 70 years. However, it is most suited for younger women.


Lisabelle Gonsalves, Team iDiva
QWhat are some of the ethnic wear trends for the season?
Meena Bindra
AI think a lot of asymmetrical cuts are in vogue. They add that bit of edginess to your everyday ethnic
wear.Anarkalis are also extremely popular, especially the long flared kurtas that we wore around 15 years
ago.

In terms of colours, pastels and bright colours like lime green and fuchsia are the shades to sport this
season.


Lisabelle Gonsalves, Team iDiva
QHow do you think styles are evolving over the years with the modern Indian woman looking for
comfort over tradition?
Meena Bindra
AWhen it comes to ethnic fashion, I have seen all the cycles. Trends keep coming back into fashion with a
little recycling here and there. But styles really have evolved in the last 30 years. Today, cuts, prints and
fashionaccessories are extremely important. But because of the variety available, I think women can have
both comfort and tradition!


Lisabelle Gonsalves, Team iDiva
QWhat does it take to be a successful woman entrepreneur?
Meena Bindra
AThe most important key to being successful is to enjoy what you are doing. I enjoyed immensely what I
did and I wasn't worried about making money.

For about 5 or 6 years, I worked out of my house and would constantly have people come over. I made a
lot of friends too and there was never any pressure on them to buy. In fact, if someone bought something
and didn't like it, I'd return the money and maybe even throw in a free dupatta. I just wanted my customers
to be happy.


Lisabelle Gonsalves, Team iDiva
QWhat is your advice to stay-at-home moms who want to start their own business?
Meena Bindra
AThe opportunities to work from home are endless, so nothing should stop you from venturing into what
you loveto do. Whether you want to bake a cake or write a book, do what you are passionate about and the
results will follow.

Enjoy the fact that you can work. There's always a sense of achievement when you do!


Lisabelle Gonsalves, Team iDiva
QHow do you balance work life and home?
Meena Bindra
AI make sure that I give equal time to my work and home. Even when I was working from home years ago,
I would shut shop by 5 PM. I never extended my work time.


Lisabelle Gonsalves, Team iDiva
QWhat are some of your hobbies?
Meena Bindra
AMy hobbies have changed over the years. I love to read but I have got into more serious, spiritual reading
these days. I also listen to western, western classical and even Indian classical music. Another thing I really
enjoy is meeting up with my friends.

Celebrating Path-Breakers! This March, iDiva.com celebrates Women's Month, showcasing 31 different
women path-breakers who have dared to take the road less-travelled, think big and achieve the
extraordinary. We also bring you a string of interesting features on reinventing yourself, discovering your
potential and achieving your dreams along with fun ways to treat yourself this Women's Day. For starters,
take part in our Guilty Pleasures Contest and win yourself awesome book hampers from Hachette India
and pampering spa products from Auravedic! With 31 exclusive prizes, everyday is Women's Day.

BIBA Apparels Pvt Ltd By Bryan deRegt and Amy McDougall
Posted on June 20, 2013 by Koushik Saha
No Comments
Meena Bindra was a wife of a military man in India looking for a little extra pocket
money. To accomplish this goal, she decided to begin designing and making some
garments out of her house. She made traditional ethnic garments of the Northern
India region. These were practical garments that fit all the traditional needs but
were also trendy so they made an attractive alternative to the market. She
planned only a small business but the demand was so extensive that she had to
make new plans. Now, she has about a hundred stores and should be up to 150
stores by the end of 2013. She is still heavily involved on the design side while her
son, Siddharth Bindra, has taken over as Managing Director and runs the company
with his mother. The company has grown into three different collections of
womens clothing: mix-and-match, Salwar Kameez & Dupathas, and a girls line
aimed at ages 2-13. In the coming years, Bindras vision seems like it will grow
into a global enterprise from its small start in her home.
Before our visit, we knew that BIBA would emulate the traditions of Indian culture
and history. The website was full of colorful photographs of the ornate designs
that BIBA has to offer. Its mission was to offer fashion at affordable prices and
was targeted to capture all the needs of an Indian woman. Its motto was Diva on
the outside, a romantic at heart-a woman can be an alluring journey. On the
business side, we found many aspects to be interesting. Before learning Siddharth
Bindra was the founders son, we wondered how he wound up as Managing
Director of a textile company after getting a masters from Harvard in Futures and
Derivatives. Additionally, the business had made a new move to partner with an
ace designer Manish Arora to help make his clothes for lower prices and appeal to
the masses. They also had previous contracts with Bollywood blockbusters and
had won numerous awards for being the top female ethnic clothing brand in
India.
When we got to the company however, we did not realize that we would be
encountering an enormous enterprise that oversees a garment all the way from
design to customer. It had an elaborate process of creative design, sampling,
fabric purchasing, merchandising, and distribution. Each season (which accounts
for six months of the year) witnesses over 1 million meters of fabric being used
for hundreds of new designs. During our tour, we got to see them beginning the
process for the Spring/Summer of 2014, as they constantly try to stay ahead of
fashion. We had the privilege of meeting with the founder Meena Bindra. She
discussed her early start and transition into her role of working in the design area
while her son took over business operations. Interestingly, she discussed that they
had stopped their association with Bollywood. However, before stopping, she
shared with us their greatest success. Partnering with Future Group, they made a
garment for a Bollywood film that when it hit retail would not stay on the shelves.
Eventually, BIBA made more money off the clothing item than Future Group made
off their movie.
Throughout our meeting, we were able to discover a constant theme. This theme
was an overarching idea that the most important thing is whether the garment
would sell. A design may be beautiful but if the decision makers did not think it
would sell then it would not be produced. They do extensive research into trends
to discover what will be popular while also greatly relying on the eye of Meena
and Siddharth Bindra. In fact, Meena Bindra said that when Siddharth looks at a
garment 99% of the time he can tell if it will be a hit. This experiences greatly
aides the company in their decision process. Overall, we were very impressed
with the company and look forward to seeing their bright future.

The Story of BIBA (brand for ethnic Indian and Indian
fusion wear)
Posted on May 29, 2013 by indiaretailreview

Patience and perseverance have a magical effect before which difficulties
disappear and obstacles vanish. The above holds apt for the story of BIBA.
From being a wholesaler for salwar suits to today being one of the most well
accepted brand in the category of womens chic ethnic wear, BIBA has an
interesting history to share.
In the late 1980s when Meena Bindra got her first Punjabi Suit (as it was
commonly referred to then) ready for selling it to her customer from the
confines of her house, little did she know that a few years down the line, her
creation would meet a day when it would be present in the wardrobe of
lakhs of women in India. Elaborates Meena who is also the chairperson of
the brand, I was always interested in designing in any form but lacked the
technical or financial skills to set up a business and I did not have much
funds either. Therefore I started with a bank loan of Rs 8000 from the
house. It seemed the easier business as fabric was the only investment
required, started almost 26 years back and the readymade garment
industry was in its infancy thus the time was right to start this business.
Adding further, she says, Luckily, soon after the launch, the brand gained
popularity due it to its beautiful hand block prints and styles, and became
the first choice for stylish cotton Salwar Kameez sets. Shortly thereafter,
Benzer Mumbai became the first exclusive store to stock my designs and I
started supplying to various stores. The association with Benzer happened
on reference of a customer who was obviously very much impressed with
Meenas designs. Post then, the journey has been only that marked with
growth.
For a couple of years, post that Meena went ahead wholesaling her brand to
the traditional retailers and it was only post in the early 1990s that an
individual identity and exclusivity to her creation was given under the name
BIBA. But why the name BIBA? Explains Meena, BIBA, in Punjabi
means a young, pretty girl or an endearment, normally used for young girls
hence I decided to name my brand BIBA. This was also the time when
Shoppers Stop came into being and Meena retailed successfully through
them. Shares Siddharth Bindra, managing director, BIBA, We take pride in
being one of the first few brands to successfully expand using the shop-in-
shop model. With Shoppers Stop we retailed using the shop-in-shop model
and it worked extremely well for both of us. But all this didnt happen as
easily as it sounds right now. The challenge before the Bindras to set up a
brand was mammoth. Back then, women relied most on the local tailors
and for a lucky few there were the designers. The concept of ready-to-wear
salwar suits was not that prevalent. Also, majority of the traditional shops
had their own labels to retail.
Citing the challenges encountered, Meena says, I have no formal training
in design and I faced some teething issues with garment production. I
learnt along the way and devised my own methods to overcome those
issues. But the biggest challenge for me was funds for expansion. I was
nave and had no knowledge of running a business or handling a brand.
There were no competitors in my category no benchmarks, no brands, no
malls. That was a time when the fashion industry was not so evolved and
customers used to rely on local garment shops for apparel shopping.
Moreover, my husband was in a transferable job and once, for eight years,
we had to stay apart as I had to stay in Mumbai to be able to run my
business when he was in Delhi. A very confident Meena says, Now, I have
23 years of industry experience. There is a separate category called ethnic
wear. Biba is a well known and widely accepted brand and is big both in
terms of scale and size. The company is profitable and we are fully equipped
to handle any business challenges. We are opening almost 4-5 exclusive
stores each month. Industry standards in general have gone up and so has
the knowledge of fashion. People are well travelled and their tastes and
design sensibilities have evolved. The only thing that remains constant is
my interest in creating new designs. I am still actively involved in the
creation of Biba designs and constantly interact with my design team.
Siddhart adds, One of the challenge that we face today is that of the excise
duty structure prevalent in the country. It definitely eats upon your profits
to quite some bit. Also, because we are an ethnic wear brand, lot of our
work is related to skilled labor. Getting trained (skilled labourers) for our
business is also a big challenge that we face besides the issue of
streamlining the supply chain.
The journey of expansion continued thereon with the opening of the first
BIBA store at Inorbit Mall in Mumbai. An interesting personal experience
led the brand to make the move to offer kidswear (read Indian ethnic wear
for young girls). Elaborates Siddharth, I have a daughter who is 7-year-old.
We have always faced a challenge finding apt Indian ethnic wear for her.
That is when we decided to expand our portfolio to include kidswear as
well. My wife has been a designer and this helped us quite some bit. It has
been a year since the brand expanded its portfolio and till date they have
managed to have about 85 touch-points to retail the brand. Says Siddharth,
We started retailing kidswear through some of our exclusive stores and
through Lifestyle and Central. We shall partner with a few of the well
established traditional retail formats too for this.
Apart from being a pioneer and one of the most widely available brands for
salwar kameez, what makes the brands stand apart from the rest. Sharing
BIBAs USP, Meena says, BIBA as a brand stands for variety and
affordable designer wear. In simple words, BIBA clothes are simple, elegant
and stylish. Each month we launch new mix n match collections and 30
new SKD designs so that our customers enjoy a wide range of products
inspired from various different sources. I feel BIBAs style redefines the
Indian womans style. One feedback we always get from our patrons is that
BIBA clothes make them look slimmer. The brand has evolved with the
customers, making it so popular amongst women. Elaborating further, she
says, BIBA specializes in ethnic garments with a modern and
contemporary look. We keep changing our designs with the trends,
retaining our roots which are steeped in Indian Traditional crafts like Hand
Block printing with vegetable dyes, exquisite hand embroideries and many
more. BIBA use pure fabrics like silks, chiffons, georgettes etc in vibrant-to-
soothing shades to create its designs. The accent here is on fashionable yet
affordable designer clothing ranging from medium-to-plus sizes which has
won a large and loyal client base.
A breakthrough for the brand came in during the late 1990s when Kishore
Biyani approached the brand for a movie partnership with film Na Tum
Jano Na Hum. Post that came in a series of movies including the likes of
Devdas, Bhagbhan etc. Sharing details of their marketing activities,
Siddharth says, Biba is building brand salience by strategically investing in
premium media like top of line fashion magazines, national dailies, leading
radio channels and out of home media. The intent is to not just advertise
but engage with our consumers at all relevant touch-points. Hence digital
and mobile media as well as onground activations are something we are
taking very seriously. Recently we started our fanpage on Facebook and
have built a loyal base of more than 1 lakh consumers in less than 1.5
months of launching! This just elucidates the popularity of the brand Biba.
For the year 2011-2012, we have earmarked 4 per cent of total sales as the
marketing budget. We will be launching our own online selling portal in the
coming financial year.
The brand is looking at strengthening its base in the country before
embarking for an overseas journey. Says Siddharth, Currently, we feel the
Indian market is not saturated. We are already present in 40 cities but still
we get a great response from our consumers each time we open a new store.
Hence the focus is on home ground right now. We have already identified
100 cities in India where we would want to be present and the task at hand
is to cover these cities in the next 2-3 years.
BIBA has successfully expanded its reach using the franchise route and
according to Siddharth the returns have been good. To support the brands
expansion, capital infusion happened with the selling of 28 per cent of stake
to Kishore Biyanis Future Venture Capital Ltd. Says Siddarth, Post 2006
we went on an expansion spree and retail is a capital intensive business. We
are happy to be associated with the Future Group. The majority of the stake
anyways remains with us. There is absolute no interference and they are
great partners (in terms of the 28 per cent stake that they have) to be
associated with.
Sharing expert view on the brand, Harish Bijoor, brand-expert and ceo,
Harish Bijoor Consults Inc., The best thing the brand has is its name. A 4
letter word with two syllables that fall easy on the tongue. its focus on
ethnic wear helped the brand occupy a vacuum in the space of high end
branded ethnic wear. It made for itself a space all its own. A space which
later attracted clones, but the brand remains a step ahead of consumer
desire and aspiration in terms of fashion and flaunt value. And thats its
true merit. The brand is alive. Alive to change and alive to the chameleon
consumer at large.
The brand did receive a set back a couple of years ago when the elder kin of
the family Sanjay Bindra decided to part ways and begin with the
retailing of his own brand 7 East but this has not deterred the mother-
son duo Meena and Siddharth to expand their wings to reach to new
territories. Says Siddharth, On an average, Biba is looking to open 4-5
stores each month to take our exclusive store number to 200 in the next 2-3
years. 80 per cent of the stores will be company owned. We are also
planning to launch 4-6 flagship stores across the country in the next 12
months with an approximate investment of 1 core per store. In terms of
product line we have recently launched Biba Girls an ethnic wear
collection for 2-12 year old girls. We have got a tremendous response for
this and we believe this will become a big category for us. There are also
plans to launch Unstitched Fabrics in a big way.