Biba Apparels sees a turnover of Rs 150 cr in FY08-09

New Delhi, May 18 (UNI) Biba Apparels Pvt Ltd said it is targetting a turnover of Rs 150 crore in the FY08-09 and will open almost 100 stores across the country over a period of two years.

''The company currently has 40 exclusive stores apart from franchises which it plans to take up to 100 by 2010 and sees a turnover of Rs 150 crore in this fiscal,'' Biba Managing Director, Siddharth Bindra told UNI.

The company plans to go international with opening stores in Bangkok and two more countries which are not decided yet in a span of 18 months.

Biba recently launched its new range of clothing, associating itself with the IIFA Awards and has named it 'IIFA Bling'. The company is merchandising a select collection from Bhootnath, the latest movie from the B R Chopra stable.

The range is priced at Rs 599-15,000 and is available at select outlets like Shoppers Stop, Lifestyle and Pantaloon apart from its exclusive stores.

The company which churned a turnover of Rs 85 crore aims to have 25 per cent of market share in three years.

UNI PDT AB BST1625