Libas Targets Rs 1,000 Crore Revenue by FY26 with Fresh Rs 150 Crore Funding
Libas, a leading women's clothing brand in India, is set to double its sales in the next two years, targeting a revenue of Rs 1,000 crore by FY26. This ambitious goal comes on the heels of securing a significant investment of Rs 150 crore in its first external funding round.
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May 30, 2024
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Major Investment Boost
The funding was led by IAF Series 5, a fund managed by ICICI Venture. This infusion of capital is a major milestone for Libas and its parent company, Zivore Apparel. The Founder and CEO of Libas, Siddhant Keshwani, shared his excitement about this development and outlined the company’s plans for growth.
Focus on Omnichannel Presence
With the new funding, Libas plans to build a robust omnichannel presence. This means they will not only strengthen their current digital presence but also expand their offline stores. The goal is to offer customers a seamless shopping experience whether they choose to shop online or visit a physical store.
Market Recovery and Growth
Keshwani mentioned that the fast fashion market is showing signs of recovery with an upward trend in consumer spending. This positive market outlook gives Libas the confidence This Means for Libas to grow in future.
Digital Expansion
The company plans to enhance its online shopping experience by investing in better technology and marketing strategies.
Offline Growth: Libas will increase its number of physical stores, making it easier for customers to access their products.
increased Sales
With these strategies, Libas aims to double its sales and reach Rs 1,000 crore in revenue by FY26.
A Bright Future Libas’ successful funding round and ambitious growth plans are great news for the brand and its customers. As the company expands, it will create more job opportunities and contribute to the economy. For consumers, the expansion means more options and better accessibility to trendy and affordable women's fashion.
Conclusion
Libas is poised for significant growth with a clear strategy and substantial financial backing. The future looks bright for this popular Indian brand as it strives to achieve its revenue goals and expand its presence both online and offline to aim high and pursue rapid expansion.
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