Eyeing a sales target of up to Rs 600 crore in FY15, ethnic women wear company Biba apparels has introduced its new brand Rangriti. Presently the company has over 140 stores in 60 cities and it plans to add 100 more stores in the next two years within the country.
"We are targeting sales of Rs 600 crore in next one year," Biba Apparels Managing Director Siddharth Bindra told The Pioneer. He further added that the company's tie-up with well known fashion designer Manish Malhotra has given it a good exposure. "Within the luxury segment, we are open to more acquisitions and investments," Bindra said.
The company is also looking to have more designers in its fold through exclusive tie ups to boost its sales. Geography-wise, apart from its presence in North India, Biba is planning to expand to North East as well as Kerala and Tamil Nadu in the South.