Ethnic wear brand BIBA, which sales from its online channel, aims to achieve a sales target of Rs. 900 to 1000 crore by financial year 2017-2018.
“As a company we are growing at a rate of 30 to 35 per cent CAGR in the last 7 to 8 years and we are targeting sales of Rs 900 to Rs 1000 cr for financial year 2017-2018,” managing director, BIBA, Siddharth Bindra said.
The brand is eyeing to increase its current market share of 1-1.5 per cent to five per cent in next 3-4 years. “We are expecting a lot of developments in the branded apparel section in next 4-5 years and hope the implementation of GST will accelerate it further. But we have no plans to venture into western wear segment,” Bindra said.
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