Ethnic fashion retailer Libas has raised Rs 150 crore from ICICI Venture, marking its first external fundraise. The company plans to use the funds to further strengthen its omnichannel presence and ramp up its retail stores across key metros and tier 1, 2, and 3 cities over the next few years.

Trilegal advised Zivore Apparel Private Limited, operating under the brand name ‘Libas’, and its promoters, in relation to its fundraise from Crores ICICI Ventures.

The transaction team at Trilegal was led by Corporate Partner Abhishek Dubey and supported by Senior Associate Ishita Sinha, and Associates Hetal Doshi and Sagnik Sarkar.

Libas is a direct-to-consumer (D2C) omnichannel brand that manufactures, sources, designs, and sells women’s apparel through online marketplaces, its own website, exclusive brand outlets, modern trade channels and other offline/distribution channels under brand names inter alia Libas, Gerua and Extra Love by Libas.