Through this collaboration, Libas aims to enhance its D2C contribution to its revenue and carve an omnichannel growth path
New Delhi: Leading ethnic fashion brand Libas has entered into a strategic partnership with GoKwik, an e-commerce enabler to expand its D2C footprint and drive growth, the company announced on Wednesday.
The bootstrapped brand aims to leverage its collaboration with GoKwik to enhance its D2C presence by optimising the checkout experience for shoppers and strengthening accessibility across all regions of Bharat.
By collaborating with GoKwik, Libas aims to continue its growth trajectory in the digital realm through the seamless shopping experience, via one-time OTP login, pre-filled addresses, multiple discount offerings, and extensive payment options.
Libas is already seeing an uplift of 10% in conversions, and prepaid transactions, demonstrating the benefits of the partnership.
“We are excited to partner with GoKwik to take our brand to new heights in the digital realm. With their expertise in e-commerce enablement, we will be able to deepen our online footprint and reach a wider audience,” said Sidhant Keshwani, founder and chief executive officer, Libas.
“By offering a one-click checkout, we aim to provide our customers with a hassle-free shopping experience, driving increased conversions and customer satisfaction. This sits in alignment with our long-term plan of a strong, evolving omni-channel presence,” Keshwani added.
Through KwikCheckout, a one-click checkout solution by GoKwik, shoppers bypass the step of logging in every time they shop from a website leading to a frictionless experience for them. Moreover, since every three e-commerce shoppers are already shopping on GoKwik’s network, GoKwik prefills up to 85% of addresses, reducing drop-offs that come at the address page, the company said.
“Over 85% of Libas’ sales now happen through online channels, with a 15% share coming from their D2C channel alone. They are all set to grow by 35% this year with a significant contribution from their D2C channel. We are excited to build a strong partnership with Libas in their quest to increase their online revenue share through their D2C website,” said Chirag Taneja, Co-Founder and CEO, GoKwik
GoKwik houses over 1500 e-commerce brands in its network including Lenskart, Neemans, Man Matters, Levis, Shoppers Stop, etc, ranging from fashion, beauty, health and nutrition, electronics and other key categories of the online shopping space.
The 2004-founded ethnic wear company has touched Rs500 crore in revenues in the financial year 2024, as per media reports.
In the new fiscal (FY 2025), the brand aims to continue growing at 60-70% by strengthening its presence offline as well as through D2C. Furthermore, the company has also started seeking investors to raise its first round of funding.
Libas recently onboarded Kiara Advani as its brand ambassador.
