Libas will use the funds to accelerate offline expansion across geographies, and ramp up its exclusive brand and retail outlets across key metros and Tier-1, 2, and 3 cities Taking on the mantle from his father, Sidhant Keshwani steered Libas’ online foray in 2014. Today, it is an omnichannel brand that sells Indian traditional apparels for women Keshwani said that the brand opened 15 exclusive brand outlets in the past one year and has now set its eyes on adding 200-250 outlets in the next 2.5 years D2C ethnic wear brand Libas has bagged INR 150 Cr in a strategic funding round from ICICI Ventures, the alternative investment arm of ICICI Bank.
The company will use the capital to further accelerate offline expansion across geographies, and ramp up its exclusive brand and retail outlets across key metros and Tier-1, 2, and 3 cities. Speaking with Inc42, Libas CEO Sidhant Keshwani said that a chunk of the capital will also be used to shore up the platform’s tech stack and invest more in marketing. “.
.. This investment will fuel expansion across categories and geographies, with a strong focus on omnichannel experience.
Our collaboration with ICICI Venture, bolstered by their successful track record and managerial expertise, perfectly aligns with Libas’ vision to revolutionise the Indian ethnic wear market,” said Keshwani. Commenting on the fundraise, Gagandeep S Chhina, senior director of private equity at ICICI Ventures, said, “..
. Libas has demonstrated industry lea.