NEW DELHI — Making their first move into fashion retail in India, U.S. private equity firm Warburg Pincus has revealed an investment in Biba Apparels Pvt. Ltd., an ethnicwear retail company.
Biba, which is unrelated to the U.K. brand of the same name, already has more than 330 doors across India and is expected to open 200 more stores over the next three to four years following the investment of 3 billion rupees, or $50 million at current exchange, that has been made jointly by Warburg Pincus and Faering Capital.
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