Biography of Sidhant Keshwani: CEO of Libas Brand -Indian Entrepreneur
Story of Sidhant Keshwani: Leading Libas into the Future
In 2013, Sidhant Keshwani took on the role of CEO for his
family’s brand, Libas, which had a turnover of 4 crores at the time. With a
strong desire to enter the e-commerce industry, he introduced Libas to the
online space by launching its website. This strategic move was pivotal, setting
the stage for the company's remarkable growth. Under Sidhant’s leadership,
Libas saw an impressive 100% year-on-year growth, culminating in a revenue of
600 crores over eight years. Sidhant's role encompasses overseeing design,
marketing, product development, and communication.
Educational Background
Sidhant’s educational background includes a Bachelor's
degree in Economics from The University of Manchester, which he completed from
2009 to 2012. This academic foundation has contributed to his strategic and
analytical skills in running a successful business.
Biography of Sidhant Keshwani: CEO of Libas Brand -Indian Entrepreneur/ Businessman/Success story of Sidhant Keshwani/e-commerce industry/Libas brand
From Online to Offline Expansion
Libas, founded by Sidhant and Sunil Keshwani, started as a
bootstrapped venture and has evolved significantly over the past decade.
Recently, the company secured external funding to fuel its expansion. Initially
focused on direct-to-consumer (D2C) sales online, Libas has ventured into
offline retail. In the last 18 months, it opened approximately 18 retail
outlets. The funding aims to accelerate this expansion and support the growth
of offline stores without relying solely on internal resources.
Plans for Further Growth
Sidhant Keshwani has articulated a clear vision for Libas's
future. The company plans to expand its offline presence to 150 stores across
the country within the next two years. Despite the growing trend of online
shopping, Sidhant emphasizes the ongoing importance of traditional retail
channels. The successful transition of customers from Libas’s online platform
to its offline stores underscores the brand's ability to blend both shopping
experiences effectively.
Under Sidhant's guidance, Libas has successfully
transitioned from a direct-to-consumer online model to a significant offline
presence. In the last 18 months, the company has opened around 18 retail
outlets. With the recent acquisition of external funding, Libas plans to expand
its offline footprint to 150 stores nationwide over the next two years. Sidhant
emphasizes the importance of maintaining a balance between online and offline
retail to capitalize on traditional shopping habits.
Technological Advancements
Sidhant Keshwani is also focusing on enhancing Libas's
technological capabilities. The funding will be used to advance the company’s
technology in supply chain management and direct-to-consumer operations.
"As a fast fashion brand, reducing turnaround time for new trends is
essential, and technology plays a crucial role in this," Sidhant explains.
These advancements aim to keep Libas competitive in the fast-paced fashion
industry.
Enhancing Technological Capabilities
Libas is also focusing on technological advancements to
support its expansion. The new funding will be directed towards scaling up
technology in supply chain management and direct-to-consumer operations.
"As a fast fashion brand, reducing the turnaround time for introducing new
trends is crucial, and technology plays a key role in this," Sidhant
explains. These enhancements will help Libas maintain its competitive edge in
the fast-paced fashion industry.
Financial Success and Future Projections
For the fiscal year 2024, Libas achieved a revenue of Rs 500
crore, reflecting its robust performance. Looking ahead, the company is
optimistic about its growth prospects, with an expected increase of 40-45% in
the current fiscal year. This optimistic outlook is supported by the strategic
use of external funding to drive further expansion and technological
improvements.
Balancing Online and Offline Presence
In addition to its online presence on platforms like
Flipkart and Myntra, Libas is expanding its physical footprint through
exclusive brand outlets (EBOs), large format stores, and multi-brand outlets.
The blend of online and offline strategies allows Libas to cater to a wide
range of customer preferences. Sidhant Keshwani’s leadership continues to be
instrumental in navigating these dual channels, ensuring the brand's growth and
adaptability in a dynamic market.
Timeline for Sidhant Keshwani story
2009-2012: Sidhant Keshwani earns a Bachelor’s degree in
Economics from The University of Manchester.
2013: Becomes CEO of Libas and launches its e-commerce
website.
2013-2021: Libas achieves 100% year-on-year growth, reaching
600 crores in revenue.
2022-2023: Opens around 18 retail outlets, supported by
external funding.
2024: Achieves a revenue of Rs 500 crore and anticipates
40-45% growth.
