BIBA Picks 26.6% Stake in Designer Brand Anju Modi

ANJU MODIBIBA Apparels, an ethnic wear brand and retailer has bought a 26.66 per cent stake in Anjuman Brand Designs Pvt Ltd, which designs and markets designer apparels under the Anju Modi brand.

Founded by chairperson, Meena Bindra in 1986, BIBA retails through 155 exclusive outlets across 65 cities, apart from a presence in retail chains like Shopper’s Stop, Lifestyle, and Pantaloons.

In October 2012, BIBA Apparels signed a strategic partnership with fashion designer, Manish Arora to promote the latter’s premium ethnic wear brand – ‘Indian by Manish Arora’.

Kishore Biyani led Future Lifestyle Fashions was one of the early investors in BIBA Apparels. Future Lifestyle had first acquired a 6.5 per cent stake in 2007, which went up to 25.8 per cent in 2011.

Biba recently launched its online portal to leverage the fast growing e-commerce market space and do maximum business in the ongoing festival season.