Libas, owned by Zivore Apparel Pvt Ltd, is targeting annual growth of 30% and plans to expand its offline retail network to 250–300 stores over the next two to three years, according to a top company executive.
The fashion brand currently operates around 50–60 stores across 15–16 Tier-1 cities and metropolitan markets. As part of its expansion strategy, Libas aims to strengthen its presence in these markets before entering additional regions more extensively.
“We started with online business in 2022 and then ventured into Libas offline stores in 2021. At present, we have around 50-60 Libas offline stores, mostly in tier-one cities. Currently, we are in 15-16 cities; we are planning to scale up our offline presence to 250-300 stores in 2-3 years.”
“We are mostly looking at strengthening our presence in tier I and metro cities, after which we’ll pick up one or two states to go deeper,” Zivore Apparel founder and CEO Sidhant Keshwani said.
Keshwani added that the company is currently focusing on expanding its presence in Uttar Pradesh. “We already have Libas showrooms in Gorakhpur and Agra, and we are opening a store in Saharanpur in UP. We are also planning for other states like Punjab, Tamil Nadu, and Karnataka for similar expansion. Currently, we are focusing on expanding mostly in the North and the South,” he said. The company plans to invest around Rs 200 crore in expanding its offline store network.
To support this growth, Libas intends to adopt the Company-Owned, Company-Operated (COCO) model for its retail outlets. However, the company may explore franchising in the future. “In the future, we are exploring the franchising model as well. But as of now, the vision is to have COCO stores unless something changes,” Keshwani added.
Regarding funding for the expansion, Keshwani said the company is evaluating different options, including private equity funding and an initial public offering (IPO). “We are still evaluating whether to raise this fund through a private equity round or to do an IPO. So, we are exploring a few models to infuse capital. It’s a mix of equity and debt that is going to help us scale up this expansion.”
Beyond physical retail, Libas plans to broaden its product portfolio and evolve into a comprehensive lifestyle brand. The company has recently introduced artificial jewellery under the Libas label and launched perfumes around three to four months ago. “We want to launch multiple categories. We have recently launched artificial jewellery under Libas. We launched perfumes about three to four months back. So, over the next 2-3 years, the idea is how we can pivot into a complete lifestyle brand with an online, offline, complete omnichannel presence,” Keshwani said.
International expansion is another priority for the brand. Libas already serves customers in the US, UK, UAE, and Australia through its online channel and has launched an e-commerce website to support overseas sales.
“Currently, we are scaling up our international business, as these four countries have a large Indian diaspora, who are all digitally native, plus logistics are easy to manage… we are also exploring countries in Southeast Asia like Singapore and Malaysia.”
“We feel countries in Asia have huge potential to grow. Even the entire Middle East has huge potential for our business. Our overseas business will be only through e-commerce as of now,” he said.
Through its planned retail expansion, broader product range, and international e-commerce strategy, Libas aims to strengthen its position in the fashion market while building a more diversified lifestyle brand.
