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Libas plans to expand offline presence by launching 50 offline store by 2023

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Indian fast fashion ethnic wear brand Libas is all set to open 50 offline stores across India  by the end of 2023 and this retail expansion is majorly focusing on Tier-2 and 3 cities. And with this, the brand is aiming at acquiring an  incremental customer base by tapping into the retail offline market.

The brand also saw a significant rise in revenue by 45% and closed a revenue of 600 crore GMV in FY 21-22 as the brand started focusing on the D2C business model along with investing more in technology and building an omnichannel ecosystem.

Sidhant Keshwani, CEO & Managing Director, Libas speaking of the growth and said,  “2021 was a fantastic year for Libas, both in terms of revenue growth and incremental  increase in the brand’s reach. We aim to follow this growth trajectory this year as well  and work towards our vision of making Libas a household name for all ethnic wear  wardrobe solutions. With this vision, we have massive plans to increase our reach in the  offline market with 50 more EBOs by 2023, to go hand-in-hand with our established  online presence. The stores will cater to all categories for ethnic and fusion wear  seekers, along with our other popular segments such as kids, loungewear and plus size  clothing.”

Launched in 1985, Libas is a 37-year-old contemporary ethnic fashion brand that narrates  the story of a modern Indian woman who is free-spirited, independent and aspirational.