Indian ethnic brand Libas IPO plans advance after Rs 600 Cr revenue growth
Synopsis
Libas IPO plans are progressing after the Indian ethnic brand crossed ₹600 crore in revenue. The company is expanding offline retail while maintaining strong online sales. Growth in India’s ethnic wear market and rising demand from global diaspora markets are supporting its expansion ahead of the planned listing.
Libas IPO preparations follow Rs 600 crore revenue growth and retail expansion. The Indian ethnic brand is scaling operations as demand for ethnic wear rises in domestic and global markets.
Key Highlights
- Libas IPO targeted for early next financial year, subject to approvals and market conditions
- Company crosses Rs 600 crore revenue, with Rs 1,000 crore annual run rate achieved
- Online channels contribute around 70% of sales, with offline retail expansion underway
- Ethnic wear market projected to exceed $30 billion by 2030, driven by domestic and global demand
Indian ethnic brand Libas is preparing for an initial public offering, with the Libas IPO targeted for early next financial year as the company expands its retail presence and scales operations.
The Libas IPO move follows the company crossing Rs 600 crore in annual revenue. It has also reported an annual run rate of over Rs 1,000 crore and expects to close the current year between ₹750 crore and ₹800 crore.
Libas, known for women’s ethnic wear such as kurtas, suits, dresses and fusion apparel, has built its business through online marketplaces and its own website, while gradually expanding into physical stores.
Retail expansion and omnichannel focus
Libas IPO preparations include increasing offline retail stores across major cities, alongside its existing online-led model. Online sales currently contribute close to 70% of total revenue.
The company has maintained over 30% year-on-year growth in recent years. It reported a loss of Rs 16.5 crore in FY25 after being profitable in FY24, reflecting higher spending on expansion and operations.
The Libas IPO strategy also includes strengthening supply chains and widening product categories as it prepares for public markets.
Ethnic wear demand extends beyond India
The Libas IPO comes at a time when demand for ethnic apparel is rising not only in India but also in international markets.
According to Grand View Research, India’s ethnic wear market was valued at about $19.1 billion in 2023 and is projected to reach over $30.4 billion by 2030. Industry estimates from Apparel Resources suggest the segment could approach $26–27 billion by FY26.
Demand is also supported by Indian diaspora populations in countries such as the United States, the United Kingdom, Australia, and Canada, where ethnic wear is widely purchased during festivals, weddings, and cultural events.
This trend has also been reflected in the growth of cross-border e-commerce and global fashion platforms offering Indian ethnic styles.
FAQs
Q1. When is the Libas IPO expected to take place?
The Libas IPO is targeted for early next financial year, subject to regulatory approvals and market conditions.
Q2. What is Libas’ latest revenue performance?
Libas has crossed Rs 600 crore in annual revenue and reported an annual run rate of over Rs 1,000 crore.
Q3. What products does Libas sell?
Libas offers women’s ethnic wear including kurtas, suits, dresses, and fusion apparel across online and offline channels.
Q4. Why is Libas expanding offline stores before its IPO?
The company is strengthening its omnichannel presence to scale operations and improve market reach ahead of listing.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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