Siddharth Bindra, MD of BIBA, talks about how the brand is responding to the changing consumers’ need and its expansion
How has BIBA as a brand evolved in India?
BIBA is growing at an exponential speed over the past few years. The brand has been growing at a CAGR of over 30 per cent in the past 4-5 years, and we are expecting to continue the same.
The fashion landscape is changing rapidly and BIBA is leading that part. Innovations will continue to happen within the brands. We will keep adding new categories.
Tell us about your latest summer collection? How this time is different from earlier ones?
BIBA’s latest collection is a unique combination of contemporary and traditional designs, which are bold, graceful, casual and classic at the same time. The new range highlights perfect styles for all occasions. The collection comprises of salwar, kameez and dupatta, ethnic mix n match kurtas, palazzos, leggings, skirts, unstitched pieces and BIBA girls – the much loved kids’ collection. The starting price of BIBA is Rs 799 and goes up to Rs 10,000.
How are you promoting BIBA Girls?
We have opened three standalone BIBA Girls’ stores in Mumbai and Bangalore, respectively, and are also planning to open 10-12 stores in 6-12 months. The brand exclusively caters to young girls aging between 2-15 years.
What’s your thought on GST?
The government’s decision to put the entire textile chain under the tax bracket of 5 per cent is indeed a bold and historic move. The second phase of taxing on branded garments below Rs 1,000 at 5 per cent and garments above Rs 1,000 at 12 per cent is also a balanced view keeping in mind the revenue constraints the Centre had. I am sure companies will be able to absorb the increase in the upper bracket and not let it impact the consumer.
What are your expansion plans?
Currently, we have 228 stores in 103 cities and are planning to open 150-200 stores in the next 2-3 years.
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