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Family business gets funded

Family business gets funded

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Zivore Apparel owning the heritage women wear brand Libas secured maiden funding to boost its offline presence. Siddhant Keshwani, Founder and CEO looks forward to the robust path ahead.

Maiden Funding:

In its first external funding, the omnichannel women ethnic wear major, Libas got funded by IAF Series 5 (ICICI Venture Fund).
Libas will strengthen its omni-channel presence and ramp up its exclusive brand and retail outlets across key metros and tier I, II, and III cities.
The capital raised will be used to leverage its technology, infrastructure and supply chain network.
According to reports, the ecommerce platform generates about 15% sales while the other marketplaces like Amazon, Flipkart and Myntra make up for 70% sales.
Libas collection is available at 15 exclusive brand outlets and 400 large format stores including Lifestyle and Shoppers Stop
Sidhant Keshani, Founder and CEO, expects a significant growth of 40-45% amounting to about INR 1000 crore revenue by 2025. He is confident about an offline expansion to about 16 store presence in the near future.

There is always a Libas:

Cutting across generation, trends have proven that sleek and timeless silhouettes are firmly in and there is no better destination to shop than Libas outfits.
There is so much history in the traditional women wear. Taking cue from the heritage, Libas delivers sustainable yet stunning Kurta Sets, Sarees and Lehangas.
When the word ‘fashion’ is shifting gears, dresses, loungewear and jumpsuits available at Libas are closet must fit.

The man shaping womenswear:

Soon after passing out from the University of Manchester with a degree in Economics, Sidhant Keshwani took the reins of his INR 400 crore turnover family-owned brand, Libas as the CEO.
With practically zero experience in the realm but a germinating concept, Sidhant toyed of entering the ecommerce industry and finally launched Libas in the online space.
The online retailing led to an eye-blistering growth of 100% Y-O-Y resulting in INR 600 crore revenue in straight 8 years.
Today, Sidhant is hands-on-founder looking into manufacturing as well as the sales and marketing.

Editor’s Note:

Post pandemic era have witnessed India’s direct-to-consumer markets augmentation. From Bewakoof to Beyoung to Blissclub have secured substantial raise and slated for major growth. Libas have joined the club with its maiden funding. Whether it is the everyday office wear or that glamorous evening outfit, the contemporary crowd’s wardrobe will be bolstered by Libas!