Privilege Clubs(India Retail Forum) (India Fashion Forum)
Siddharth Bindra, Managing Director of BIBA, joined the family business in 1997, with a primary objective to convert the ‘home grown’ product to a national ‘brand’, capitalising on the retail boom in India. In a country where ethic fashion is predominantly unorganised, his keen observation of the Indian consumer and market gaps made him pioneer the creation of an ethnic wear category where none existed and transformed BIBA into one of the country’s most respected ethnic wear brands.
Recipient of the IFA 2014 title ‘Images Most Admired Fashion Brand of the Year: Women’s Indianwear’ BIBA, a synonym for pretty women in Punjabi, operates over 170 exclusive stores in over 65 cities pan India. It is also available in large format stores such as Shoppers Stop, Lifestyle, Pantaloons and Central, among others.
Among other firsts, Biba was also the pioneer of Bollywood merchandising in India with its first integration in motion pictures such as “Na Tum Janno Na Hum”, followed by other exclusive partnerships with movies such as “Devdas”, “Baghban”, “Hulchul” and “Bhoothnath”, among many others.
Bindra’s focus on constant reinvention of the BIBA brand has been a mainstay of his strategy. With the constant endeavour to expand the business, product profile and consumer reach, he inked a deal with celebrity fashion designer Manish Arora with a majority stake in the ‘Indian by Manish Arora’ brand and recently acquired a minority stake in the designer label- Anju Modi. He also formed a JV with acclaimed designer Rohit Bal to mark BIBA’s foray into the bridal and luxury ethnic fashion category.
“We hope to add 200 more stores over the next 3 years and take Biba to a 1000 crore brand by 2017-18. Biba as a Company aims to have 3% of the womens ethnicwear market by 2020” says an optimistic Bindra. “We have invested in strategic partnerships with designers like Manish Arora & Anju Modi to foray in the luxury ethnic space and look forward to many more such partnerships in the future. With the launch of our fashion value brand- Rangriti we are looking at enhancing the brands presence at lower price points and to be able to cater to a large segment that is still purchasing from the unorganised markets. It is our aim to make Rangriti a 500 crore brand in the next 5 years.”
After finishing his M.Com from Sydenham College, Mumbai, he pursued higher studies in Futures, Options and Financial Derivatives, and Capital Markets & Investments from Harvard. Currently, he has over 17 years of experience in the textile and apparel industry