W16531

BIBA: STITCHING PLANS FOR GROWTH1

Professor Ritu Mehta, with the assistance of Prateeth Nayeeni, wrote this case solely to provide material for class discussion. The
authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised
certain names and other identifying information to protect confidentiality.

This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the
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Copyright © 2016, Richard Ivey School of Business Foundation Version: 2016-08-26

“I never imagined it when I started . . . but as you grow, your vision keeps growing. Now, I feel I can grow
to any height, even become a global brand.”2
Meena Bindra, chairperson, Biba Apparels Pvt. Ltd.

Considered a leader in the women’s ethnic wear market, Biba Apparels Pvt. Ltd. (Biba) had ambitious plans
for its future. Founded by Meena Bindra, a homemaker, in 1986 from her home in Mumbai,3 Biba succeeded
in developing a nationwide presence by introducing the concept of a ready-made salwar kameez.4 Biba
created a national brand in a category that was predominantly generic in nature. With revenues of ₹4.2
billion5 in 2014, Biba aimed to reach ₹10 billion by 2018.6 Biba had expanded its collection to cater to the
diverse demands of women of all ages. In 2015, it also made changes to its logo to give the brand a more
contemporary look. However, over the past several years, other players also strengthened their presence in
the ethnic wear market where customers’ preferences were always evolving. As a pioneer of branded ethnic
wear for women, a number of questions loomed over Biba. Would it be able to sustain its first-mover
advantage in the fast-changing apparel market? How could it keep pace with the growing aspirations of
young women? Could it leverage its pioneering status to the overseas’ market as well? Would it be able to
leverage its brand to other product categories? How could it achieve its target sales turnover for 2018 amid
the ever increasing competition?

HUMBLE BEGINNINGS

Meena Bindra, wife of a navy officer, founded Biba at a time when women purchased fabric from local
stores and had their clothing made at the corner tailor shop. In the 1980s, ready-made, branded apparel was
at a nascent stage and it was largely restricted to designer labels available at exorbitant prices or small-store
brands catering to the local market. Bindra had no formal training in design but she enjoyed creating clothes
and dabbled with different prints and colour combinations.7 Ethnic clothing in India involved a variety of
regional handwork such as the Lucknowi and Kashmiri embroidery,8 Kutch work, mirror work, and hand
printing techniques like the Rajasthani prints using vegetable dyes. Bindra, who was determined to make
good quality ethnic clothing, started her business with a meagre loan of ₹8,000. She sold the initial stock
of stitched and unstitched salwar suits to relatives and friends and the first sale resulted in a profit of about
₹3,000.9 Word quickly spread and she started getting orders from renowned retailers such as Benzer and

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Sheetal. Realizing that she needed a name for keeping accounts, she decided on Biba which meant “a sweet
little girl” in Punjabi.

In the early 1990s, the brand name Biba was gaining recognition. Orders started coming in from cities
across India. With her elder son, Sanjay Bindra, helping her with the business, Biba became one of India’s
largest ethnic wear wholesalers by 1993.10 Biba saw its biggest break in the mid-1990s when it started
getting orders from leading retail chains like Shoppers Stop and Pantaloons. This development was a
turning point for Biba. It forced Biba to bring in a greater level of professionalism to its operations to meet
delivery and quantity deadlines. The result was nationwide acceptance for Biba.

GROWTH IN THE 2000s

Siddhartha Bindra, the younger son of Meena Bindra, having completed his education at Harvard University
in the United States, joined the company in 2002. He envisioned Biba opening its own exclusive retail stores.
While the support of Sanjay11 saw Biba’s proliferation in multi-brand outlets (MBOs), the joining of Siddhartha
saw Biba opening its own retail outlets. The first exclusive brand outlet (EBO) was launched in Mumbai in
2004. It was an instant success with monthly sales of ₹1.2 million to ₹1.5 million.12 Over the years, Biba
established more EBOs in addition to increasing its presence in large retail chains such as Pantaloons, Cental,
Lifestyle, and Shoppers Stop. Starting with large, urban centres, the company gradually ventured into Tier 2
and Tier 3 cities.13 In many places, Biba adopted the franchise route. In 2007, Kishore Biyani’s Future Group
took a minority stake, which it later increased to 25.8 per cent.14 The capital that was raised helped Biba during
its expansion. The Future Group sold off its entire stake to U.S.-based renowned private equity firm, Warburg
Pincus, in 2013, at a time when Biba’s revenues had increased almost 10 times from ₹300 million in 2007 to
₹3,000 million. The deal valued Biba at ₹10 billion.15 By 2014, Biba had about 150 EBOs and 225 MBOs
spread out over 65 cities in India16 (see Exhibit 1). In addition, Biba expanded its online presence through its
own website, www.biba.in, and other major online retailers. Online sales accounted for 7 to 10 per cent of its
overall business.17 During the first six months of FY2014/15, Biba reported an operating income of ₹192.5
crore, operating profit margin of 27.1 per cent, and net profit margin of 16.3 per cent.18

Product Portfolio

Over the years, Biba expanded its product portfolio. It added a mix-and-match collection of kurti, bottoms,
dupattas, leggings, and unstitched suits. In 2011, the company introduced ethnic wear targeting girls
ranging in age between two and 12 years and launched ethnic wear in different cuts, colours, and prints to
keep up with fashion trends. Biba aimed to provide a one-stop destination for ethnic wear needs for women
of all ages, sizes, and walks of life—homemakers, professionals, and college students. Biba was always
evolving its product categories to cater to different segments. As Bindra explained:19

There has been a shift in our target group. Ten years back, brand Biba was more inclined towards
catering to women in the 32–45 years age group because the visibility of the brand was less, and
the product range suited this bracket. Biba was manufacturing only salwar kameez then. Today,
our product has evolved. We have a wide range—mix and match, Indo Fusion, and salwar kameez
(asymmetrical and A-line cuts). This range has been created keeping our focus group in mind.

In 2012, Biba entered the luxury ethnic wear and the bridal wear market by picking up a 51 per cent majority
stake in fashion designer Manish Arora’s brand, Indian by Manish Arora.20 Biba partnered with Rohit Bal,
one of India’s most acclaimed designers, in 2013. This association saw the launch of a special collection

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called Biba by Rohit Bal at select Biba outlets. This development brought high fashion into the reach of
India’s urban women and continued Biba’s expansion as it bought a 35–40 per cent stake in designer label
Anju Modi in 2014.21

That same year, Biba entered the value segment by introducing a more affordable product range under a
new brand, Rangriti. With prices starting from ₹499, Rangriti provided a fashionable, branded ethnic wear
alternative to unbranded versions for its more price-sensitive customers. These products were not made
available at Biba’s EBOs, but were distributed through local retailers in select states initially, online
retailers, and Rangriti’s own website. As Bindra noted:

We don’t plan to open stores for Rangriti. In fact, we have [partnered] with strong local retailers
such as Joyalukkas, Ritu Wears, to address the value-fashion market. We want to convert this
unbranded market into a branded one . . . . We want to make Rangriti the fastest growing ₹1 billion
brand at net sale value in the next two years.22

True to its unique selling proposition of providing affordable fashion wear, Biba’s product range had
something to suit every pocketbook. There were products for both daily and occasional wear offered at
competitive prices.

Connecting with Customers

Biba communicated with its customers in innovative ways. It pioneered film merchandising in India in 2004
by providing costumes for the movie, Na Tum Jano Na Hum.23 Over the years, Biba entered into
merchandising deals with other leading Bollywood movies, which provided the company with a great
platform to showcase its fashion acumen.

Biba also actively engaged with its customers on social media. It partnered with Brandmovers, a leading
firm in digital engagement, to manage its accounts on Facebook, Twitter, Pinterest, YouTube, and other
social networking sites (see Exhibit 2).

Biba refrained from mainstream advertising, banking more on fashion magazines, fashion shows, national
dailies, and out-of-home (OOH) media. In an attempt to keep its relevance with younger consumers, Biba
changed its logo in early 2015. It added a peacock feather to its earlier logo to symbolize elegance and
pride. Siddhartha Bindra said:

We are flirting with the idea of television. Today, we have built the distribution that will
complement television advertising. We might advertise on TV within a year. However, we are still
wondering if television is the right medium for fashion. Print and OOH show a fashion brand much
better than television . . . . Over the years, the company and its consumers have evolved; therefore,
a new identity was required to represent the Biba of today. People related to the old identity of
Biba, hence the new logo is not vastly different. We retained the colour red in the logo as it
represents festivity and ethnicity—something the brand and clothing line essentially represents.24

WOMEN’S ETHNIC WEAR MARKET IN INDIA

Overall Market Size and Growth

The Indian apparel market was estimated at US$39 billion in 2013. Women’s wear constituted the largest
segment at 38 per cent market share and was expected to grow at a compound annual growth rate of 10 per

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cent owing to the growing number of working women.25 Ethnic wear represented about 75 per cent of the
total women’s wear market at US$10.82 billion and was expected to keep growing at 9.3 per cent. Sarees26
(53 per cent) and salwar kameez (38 per cent) constituted most of the sales in the women’s ethnic wear
segment.27 There was an element of pride associated with wearing ethnic wear since it was grounded in
India’s rich traditions and cultural heritage. The saree was the most admired option amongst older women
and those living in rural or semi-urban areas. However, the preference for saree over salwar kameez varied
by region. Women in the northern part of India preferred wearing the salwar kameez over the saree for their
day-to-day activities while sarees were worn on special occasions. On the other hand, women in South
India preferred to wear sarees on a regular basis as well as on special occasions. However, there was a
growing acceptance of the salwar kameez all over India as it offered more comfort and convenience than
sarees and, at the same time, conformed to Indian values. The growing mobility of women also led to the
salwar kameez becoming the preferred work wear. As a result, the salwar kameez segment grew at 10.8 per
cent in 2013.28

The unbranded and unorganized sector accounted for most of the ethnic wear sales (85 per cent). The
women, men, and children’s segments accounted for 87 per cent, 10 per cent, and 3 per cent respectively
of the overall ethnic wear market.29 Branded ethnic wear was growing at almost double the rate of the
unbranded segment. In addition, the men and children’s segments were expected to grow at a faster pace
than the women’s ethnic wear market.30 Over the last few years, other than Biba, a few brands had
succeeded in establishing a national presence in the women’s ethnic wear segment. These included W,
Fabindia, and Global Desi brands. National retail chains such as Shoppers Stop, Pantaloons, Lifestyle,
Westside, and Big Bazaar also launched their own brands. Apart from a handful of national brands, there
were some brands with a strong regional presence such as Neeru’s brand in Hyderabad and the Jashn brand
in Mumbai. The high-end segment in the men’s wear segment was seeing growth because of an increasing
preference for wearing ethnic wear to weddings and other festivities. Niche brands like Manyavar, Diwan
Saheb, and Mohanlal Sons were catering to this segment with a wide range of products that included kurtas,
pyjamas (bottoms), and sherwanis.31

Ethnic apparel in Tier 2 and Tier 3 cities was largely purchased from unbranded sources, but a sizable
number of customers from these smaller cities travelled to bigger cities to buy branded ethnic wear. These
small cities provided remarkable growth potential. Ethnic wear was also finding inroads into the overseas
markets due to the growing demand from the Indian community abroad. Tourists carrying ethnic wear back
home, combined with the popularity of Bollywood movies and television dramas, resulted in awareness
and demand from these markets.

Manufacturing and Retail Challenges

Manufacturing of ethnic wear posed many challenges. Manufacturers procured raw materials from across
the textile belt in India, which meant that maintaining standardization was a challenge. Manufacturing that
involved handwork and skilled labour was not readily available. Thus, scaling up the supply chain and
improving productivity were difficult. Additionally, the designs in India were observed to have lower
product life cycles than in the West, where the fashion calendar was primarily based on the four seasons—
spring, autumn, winter, and summer collections. Indian women actively searched for the latest fashion
trend, putting pressure on manufacturers and retailers to reduce the overall time from product design to its
arrival in retail stores. Most retailers saw product replacement cycles ranging from three to four weeks.
Thus, inventory management and sales forecasting were critical success factors in the ethnic wear industry.
The industry also saw demand fluctuations, for instance, a spike in demand during festival times and lull
phases at some other times. These fluctuations left manufacturers working on optimal manpower

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requirements and continuously tracking product movement. Moreover, since most ethnic wear involved
handwork like hand block printing and dyeing, there remained some inconsistencies in the garment, which
many of the customers perceived as manufacturing defects. Retailers had to educate their customers to help
them appreciate these inconsistencies.

Evolving Trends

While the ethnic wear market was huge, there was a shift in consumer preferences from pure ethnic outfits
to fusion attires, especially among young women. The growth in corporate culture and exposure to western
brands and media had led to a phenomenal growth in sales of Western wear during the last few years.
Industry estimates pegged the annual growth rate at 40–50 per cent.32 Brands such as Benetton, Levi Strauss,
Allen Solly, Van Heusen, Marks & Spencer, and more recently, Zara, H&M, Gap, and Forever 21, were
expanding their presence in urban India. These developments led to the emergence and acceptance of new
categories in fusion wear that combined different elements of western and traditional Indian wear into
product design. Millennials were increasingly looking beyond categories and were experimenting with
different Indo-Western combinations, colours, and cuts. Apparel retailers were trying their best to keep up
with their evolving tastes and preferences.

BIBA’S COMPETITION

The women’s ethnic wear market in India was highly fragmented and competitive. While Manyavar was
the only brand with a nationwide presence in the men’s ethnic wear segment, there were a few brands, apart
from Biba, that also succeeded in creating a domestic presence in the women’s segment.

Fabindia

Fabindia was founded in 1960 by American entrepreneur, John Bissell. Impressed by Indian handloom textiles,
Bissell founded Fabindia with a mission of bringing Indian handcrafted clothing to the rest of the world while
creating employment for rural artisans. The company’s initial focus was on exports. When John’s son, William
Bissell, replaced him as managing director in 1993, Fabindia started focusing on the domestic market. The
company also added organic foods, personal care products, furniture, and handcrafted jewellery to its clothing
business. In 2014, 60 per cent of the revenues of the ₹10 billion brand came from the apparel segment.33 To
address younger consumers’ preferences for Western wear, Fabindia introduced a unique blend of Indian fibres
and Western design under the Western wear brand, Fables, in 2014. For instance, the Fables collection included
cotton shirts with chikankari work and block printed blazers for men,34 and linen skirts and palazzo pants for
women. Since inception, Fabindia had worked as a community-owned business. It sourced its products from
community-managed companies comprising self-managed artisans, weavers, and craft workers having
common ownership of resources, and equity-stake in these companies. Without much advertising, Fabindia
remained one of the largest ethnic wear brands in India. It was perceived as an expensive ethnic brand with a
strong Indian identity. With 189 stores across India, Fabindia had also expanded its presence to Singapore,
Dubai, the United Kingdom, Malaysia, Italy, Nepal, and Bhutan.35

W for Woman

In 2002, W for Woman (W) opened its first store in Delhi and, by 2015, the brand grew to nearly 160 stores
located throughout India.36 These stores were either company-owned or franchise outlets. The brand was

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also available through multi-brand outlets, major online portals, and its own website. W was credited for
pioneering the concept of Indo-Western fusion wear and thereby growing the market for ethnic wear.37
TCNS Clothing Company was the brand owner and operated another 50 stores that marketed affordable
women’s clothing under the brand name, Aurelia, which was priced lower than W. With its focus more on
fusion wear, TCNS Clothing Company saw a year-on-year growth rate of 40 per cent in 2014.38 Known for
its simple yet stylish designs and cuts, W had gained traction not only in metropolitan cities, but also in
Tier 2 and Tier 3 cities in a short span of time. Given that approximately 15 per cent of the orders on its
website came from international customers, the company planned to open stores in countries with sizable
Indian communities such as Singapore, Mauritius, and Sri Lanka.39

Global Desi

Global Desi, a part of designer Anita Dongre’s company, AND Designs India Limited (ADIL), was
introduced as an affordable Indo-Western fashion brand in 2007. The brand known for its bright colours
and bold prints combined ethnic and Western styles. It particularly appealed to chic and fashion-conscious
urban women who sought stylish designer clothes at value prices. The other two brands owned by ADIL
were AND, a contemporary Western wear label for women, and Anita Dongre, a signature collection of
bridal wear and couture for both men and women. Anita Dongre’s commitment to promoting Indian
traditional arts and craft was visible in many of her works as Global Desi combined India’s print, texture,
and vibrant colours with Western cuts and patterns to appeal to an international audience. The company
revenues were estimated at ₹3,000 million in 2014. Its clothing lines were sold through 123 exclusive stores
across its three brands.40 The company also launched a Global Desi store in Mauritius in 2013, kicking off
its ambition to go global.

CHALLENGES AHEAD FOR BIBA

The women’s ethnic wear market was quite large, but, at the same time, very dynamic. It was imperative
that Biba embraced changes and kept pace with its consumers’ needs. There was a growing sentiment
among teenagers that ethnic wear was either for older women or something to be worn on special occasions.
Could Biba change this attitude? The company unveiled a fresh identity by changing its logo and font to
cater to a young and trendy customer base. It made some changes to its product portfolio that included
different cuts and styles. Was it enough? Who was it competing with? Should Biba worry about Zara and
the Gap? How could it continue to build its brand? How could it keep its loyal customer base and grow in
the face of increasing competition?

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EXHIBIT 1: BIBA STORES BY CITY

NORTH INDIA Puducherry 1

No. of Telangana Hyderabad 10
State City stores
Warangal 1
Bihar Patna 1
Total (South) 47
Haryana Karnal 1
EAST INDIA
Yamuna Nagar 1 No. of
Chandigarh 3 State City stores
Himachal Pradesh Shimla 1 Orissa Bhubabeshwar 1
New Delhi New Delhi 20 Cuttack 1
Punjab Ludhiana 1 West Bengal Kolkata 6
Jalandhar 1 Siliguri 2
Amritsar 1 Total (East) 10
Pathankot 1 CENTRAL INDIA
Rajasthan Udaipur 1 No. of
State City stores
Jodhpur 1
Chattisgarh Raipur 1
Kota 1
Jharkhand Jamshedpur 1
Jaipur 4
Ranchi 1
Uttar Pradesh Agra 2
Madhya Pradesh Bhopal 2
Bareilly 1
Indore 1
Lucknow 5
Jabalpur 1
Varanasi 1
Gwalior 1
Kanpur 1
Total (Central) 8
Allahabad 1
WEST INDIA
Gorakhpur 1
No. of
Uttarakhand Dehradun 2 State City stores
Total (North) 52 Gujarat Ahmedabad 2
SOUTH INDIA Vadodara 1
No. of
Surat 1
State City stores
Rajkot 1
Andhra Pradesh Vijayawada 1
Jamnagar 1
Guntur 1
Goa Margaon 1
Visakhapatnam 1
Maharashtra Mumbai 15
Karnataka Bengaluru 14
Pune 4
Mangaluru 2
Nagpur 2
Mysuru 1
Nashik 2
Devangere 1
Sangli 1
Ballari 1
Kolhapur 1
New Hubli 1
Total (West) 32
Belgaum 1
NORTH EAST
Kerala Thiruvananthapuram 1 INDIA
Kochi 1 No. of
Kozhikode 1 State City stores
Tamil Nadu Chennai 5 Arunachal Pradesh Itanagar 1
Coimbatore 2 Assam Guwahati 1
Madurai 1 Tripura Agartala 1
Total (North East) 3

Source: “How to Contact BIBA,” Biba, accessed May 10, 2015, www.biba.in/pages/Store-Locator/pgid-1138578.aspx.

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EXHIBIT 2: SOCIAL MEDIA POPULARITY OF DIFFERENT APPAREL BRANDS (2015)

Biba
Facebook: 331,935 likes with 8,681 people talking about it
Twitter: 1,230 followers and 2,808 tweets

W
Facebook: 238,870 likes and 2,357 people talking about it
Twitter: 1,822 followers and 4,374 tweets

Fabindia
Facebook: 113,719 likes and 808 people talking about it
Twitter: 1,746 followers and 353 tweets

Source: accessed May 10, 2015, www.facebook.com/BibaIndia, https://twitter.com/bibaindia,

www.facebook.com/WforWoman/, https://twitter.com/wforwoman, www.facebook.com/Fabindia/,
https://twitter.com/fabindianews?lang=en.

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ENDNOTES
1
This case has been written on the basis of published sources only. Consequently, the interpretation and perspectives
presented in this case are not necessarily those of Biba Apparels Pvt. Ltd. or any of its employees.
2
Rashmi Bansal, Follow Every Rainbow: The Inspiring Stories of 25 Women Entrepreneurs Whose Gentle Touch Created
Strong Business, (India: Westland, 2013), 10.
3
“Company Overview of Biba Apparels Pvt Ltd.,” Bloomberg L.P., accessed August 15, 2015,
www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=118748001.
4
Also known as a Punjabi suit where kameez, or kurta, is the long top covering the upper part of the body, and the salwar is
the bottom portion similar to a pair of trousers. The salwar kameez is often accompanied by a dupatta, a soft material thrown
over the shoulder to add to the grace and complete the overall look.
5
₹=INR=Indian rupee. All currency amounts are in ₹, unless otherwise specified. ₹1 = US$0.0167 as of April 1, 2014.
6
Mehak Sharma, “BIBA Targets Younger Positioning, Rs 1000 cr Turnover by 2018,” India Retailing, April 1, 2015, accessed
August 15, 2015, www.indiaretailing.com/Fashion/7/1/6/13231/BIBA-targets-younger-positioning-Rs-1000-cr-turnover-by-
2018.
7
Bansal, op. cit., 5.
8
Lucknowi embroidery, also called chikan embroidery, is a traditional embroidery style from Lucknow, India. It makes use of
flat, embossed, or raised stitches on cotton or fine fabrics. The designs created using these stitches include motifs of leaves
and flowers. Kashmiri embroidery, also called kashida, is the traditional embroidery style from Kashmir that involves the use
of only one or two stitches to design patterns on the fabric. Patterns include that of birds, flowers, mangoes, trees, and vines.
9
Bansal, op. cit.
10
Ibid., 7.
11
“Seven East Eyes Rs 100 cr Revenue by March 2015,” The Economic Times, February 25, 2013, accessed August 15,
2015, http://articles.economictimes.indiatimes.com/2013-02-25/news/37289346_1_new-brand-cr-revenue-icici-ventures.
12
Bansal, op. cit., 9.
13
Cities in India are categorized into different tiers based on their population. Tier 1 = 100,000 and above, Tier 2 = 50,000 to
99,999, and Tier 3 = 20,000 to 49,999 people; Reserve Bank of India, “Details of Tier-Wise Classification of Centres Based
on Population,” accessed April 10, 2016, https://rbidocs.rbi.org.in/rdocs/content/pdfs/100MCA0711_5.pdf.
14
“Future Lifestyle Exits from ‘Biba’ & ‘AND’, Sells Stake for Rs 450 Crore,” The Economic Times, November 12, 2013,
accessed August 20, 2015, http://articles.economictimes.indiatimes.com/2013-11-12/news/43981177_1_kishore-biyani-biba-
apparels-190-crore.
15
Shravan Bhat, “Biba Apparels: Redefining Ethnic Wear for Women,” Forbes India, July 24, 2014, accessed August 20, 2015,
http://forbesindia.com/article/hidden-gems/biba-apparels-redefining-ethnic-wear-for-women/38262/1.
16
Ibid.
17
Saumya Tewari, “We’re Still Wondering If TV Is the Right Medium for a Fashion Brand,” afaqs! May 4, 2015, accessed
August 20, 2015, www.afaqs.com/interviews/index.html?id=455_Were-still-wondering-if-TV-is-the-right-medium-for-a-
fashion-brand-Siddharth-Bindra-MD-Biba.
18
“Biba Apparels Private Limited,” ICRA, accessed June 5, 2016,
icra.in/Files/Reports/Rationale/Biba%20Apparels_r_28112014.pdf.
19
Tewari, op. cit.
20
“Biba Picks 51% Stake in Designer Manish Arora’s Label,” The Economic Times, November 7, 2012, accessed August 20,
2015, http://articles.economictimes.indiatimes.com/2012-11-07/news/34970975_1_manish-arora-brand-internal-accruals.
21
Suneera Tandon, “Biba Apparels Buys Stake in Designer Label Anju Modi,” Livemint, November 10, 2014, accessed August
20, 2015, www.livemint.com/Companies/VZOpsoz1S3w8Vjs3BeUgSN/Biba-Apparels-buys-stake-in-designer-label-Anju-
Modi.html.
22
Tewari, op. cit.
23
Soma Basu, “The Story of BIBA,” The Hindu, November 12, 2015, accessed August 30, 2015,
www.thehindu.com/features/metroplus/fashion/the-story-of-biba/article7869493.ece.
24
Tewari, op. cit.
25
Amit Gugnani and Prerna Kaushal, “Ethnic Wear Market in India,” Technopak, accessed August 30, 2015,
www.technopak.com/Files/ethnic-wear-market-in-india-2013.pdf.
26
The saree is India’s oldest and most popular traditional clothing worn by women. It is an approximately six-yards-long
rectangular piece of fabric draped around the body with one end thrown over the shoulder. It is worn with a blouse, a tight top
usually cropped at the midriff.
27
Gugnani and Kaushal, op. cit.
28
Ibid.
29
Ibid.
30
Ibid.
31
Sherwani is a long coat-like garment worn by Indian men usually during festivals or ceremonial occasions. It is traditionally
worn with a tight-fitting pajama as the lower body clothing.
32
Suneera Tandon and Mihir Dala, “Apparel Brands See 50% Growth in Women’s Western Wear,” Livemint, February 14,
2014, accessed September 10, 2015, www.livemint.com/Industry/FhE2TWrRXvqAZ9RYAlIjgM/Apparel-brands-see-50-
growth-in-womens-western-wear.html.

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33
Ajita Shashidhar, “Fabindia Gears up to Follow High Growth Path,” Business Today, April 26, 2014, accessed August 30,
2015, www.businesstoday.in/current/corporate/fabindia-gears-up-to-follow-high-growth-path/story/205594.html.
34
Block-printing involves the use of a carved material, usually wood, covered with ink to transfer the desired pattern onto the
fabric.
35
“Fabindia Stores,” Fabindia, accessed August 30, 2015, www.fabindia.com/stores.
36
“About Us,” W for Woman, accessed August 30, 2015, www.wforwoman.com/corporate/about.
37
Zainab S. Kazi and Rosy Sharma, “Dynamics of Indian Ethnicwear,” Indiaretailing.com, November 14, 2014, accessed
October 1, 2015, www.indiaretailing.com/7/1/83/12502/-Dynamics-of-Indian-Ethnicwear.
38
“TCNS Clothing Plans to Open Outlets in Singapore, Sri Lanka,” Business Standard, October 12, 2014, accessed
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lanka-114101200091_1.html.
39
Ibid.
40
Ajita Shashidhar, “Drafting New Designs,” Business Today, August 31, 2014, accessed September 10, 2015,
www.businesstoday.in/magazine/cover-story/anita-dongre-fashion-indian-women-milan/story/209032.html.

This document is authorized for use only in Prof. Vivek Rajvanshi's EPSM-12 at Indian Institute of Management - Calcutta from Jun 2019 to Dec 2019.