Libas, India’s leading fast fashion brands, opened its latest flagship store at Sarath City Capital Mall in Hyderabad. This marks a big step in the brand’s continued expansion in Southern India. Spread across a sprawling 4,000 square feet, the new store showcases Libas’ diverse fashion collection under one roof, offering a premium shopping experience tailored for the modern Indian woman.
“We are expanding our presence in Southern India, and Hyderabad is a key market for us,” says Sidhant Keshwani, Founder & CEO of Libas. This is their first store in Hyderabad and are planning to add more stores in the city.
Keshwani attributes the brand’s success to its unique selling proposition (USP) of fast fashion. “Our USP is fast fashion. We are not niche-based; we are fashion-based. We quickly get the latest trends into our stores,” he explains.
Libas has been performing well in the e-commerce space, “Our business has been doing well, especially on e-commerce sites. We saw a slight dip after Diwali, but March onwards, it’s been amazing again,” Keshwani says.
The brand has an ambitious plan ahead, “We have 25-26 branches currently, and we are planning to open 5-6 stores every month. By the end of this financial year, we will have above 80-100 stores,” Keshwani reveals.
In terms of revenue, Libas is expecting significant growth. “We are expecting a revenue of around 650-700 crores this year. Last year, we just crossed that mark, and the numbers are yet to be announced,” Keshwani says.
The brand is investing heavily in expanding its stores and scaling up its business. “We raised our first round of funding last year, which is helping us with our expansion plans,” Keshwani explains.
Hyderabad is a key market for Libas, and the brand is planning to add 5-6 stores in the city in the next one year. “We are excited about the Hyderabad market, and we are planning to add more stores in the city in the next one year,” Keshwani says.
The brand has a network of suppliers across India, and its designing happens in-house. Manufacturing is outsourced to various locations, and the design hub is in Delhi. “We have a network of suppliers across India, and our designing happens in-house. Manufacturing is outsourced to various locations, and our design hub is in Delhi,” Keshwani explains.
Libas is a team of around 1500 people, and Keshwani and his father are the co-founders of the brand. The brand’s inspiration came from Keshwani’s desire to do something in e-commerce, and the family’s export business in clothing. “I wanted to do something in e-commerce, and we had a family export business in clothing. I chose clothing, started e-commerce, and it did really well. We scaled it up, and 2-3 years later, we started opening stores,” says Keshwani.
Libas being a new age brand believes in fully utilizing the potential of the digital age. “We are a digital brand, and most of our marketing strategies are digital. We do influencer marketing, moment marketing, and community building. We don’t do traditional marketing like hoardings, radio, or TV,” Keshwani asserts.
The brand’s growth plans are ambitious with the outlook for e-commerce being overwhelmingly positive. “e-commerce is going to grow and we will capitalize on that,” Keshwani signs off.
