.Cultural wear fast fashion trend brand Libas, which presently flaunts 15 EBOs, is actually planning to open up 100 EBOs by FY 2026 end, Sidhant Keshwani, founder & CEO, Libas said to ETRetail.It is looking at to add 10 brand new EBOs just before Diwali. It is actually targeting to have 50 retail stores working through this financial end." We intend to open our EBOs in the region cities first, adhered to by condition principal cities, and afterwards our team are going to pass through much deeper in to India. Nowadays all our outlets are company-owned and also company-operated, nonetheless, going ahead, our experts consider to look into franchise-owned as well as company-operated version," he stated.The normal store dimension of the company stretches over all over 1,000-1,500 sq.ft and also CAPEX for opening the outlet stands at Rs 3,500-4,000 per sq.ft.Recently, the label increased its preliminary of backing of Rs 150 crore from IAF Collection 5, a fund handled through ICICI Venture, to accelerate its own offline expansion plans, supply chain, as well as modern technology innovations.Apart from this, the brand name is actually also existing around much more than five hundred MBOs like Customers Quit, Way Of Life, and also Reliance Trends. "Today, markets bring about 60 per-cent of our income and the staying 40 per cent originates from our offline channels. Our average purchase value and consumer acquisition expense online stands at Rs 1,800 and Rs 250, specifically," he stated.In September 2023, it also launched a brand-new brand Libas Art giving joyful damage. Currently it delivers 400-450 SKUs and also Libas, which is actually a pure-play prompt fashion trend brand name and launches 80-100 choices each week, supplies much more than 5,000 SKUs." Within the 1st month of launch, our team observed a large uptick in the need of Libas Fine art's products and enrolled an income of Rs 1-1.5 crore. This festive time, we are considering a 3x growth of the label," he asserted.Apart from this, Libas likewise got in global markets like the U.S.A., UK, UAE, and Australia in January of last fiscal." Our company go to the run-rate of Rs 15-20 crore on the international edge of business. Presently, we have no plans to enter into any kind of new country," he insisted. The brand name, which shut the last monetary along with the GMV of Rs 520 crore, is actually looking at to clock Rs 750 crore GMV this fiscal and is eyeing Rs 1,000 crore GMV in the upcoming financial.
Posted On Aug 9, 2024 at 01:10 PM IST.
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