From Failed Startup to ₹700 Crore Indian Fashion Brand | Libas, Sidhant Keshwani

What does it take to build a ₹700 Cr Indian wear brand without VC money? In this episode of the Indian Silicon Valley Podcast, Jivraj sits down with Sidhant Keshwani, CEO of Libas — the digital-first ethnic wear company redefining fast fashion in India. Starting in 2013, when D2C wasn’t even a term, Siddhant bootstrapped Libas for eight years, scaled profitably in one of India’s toughest markets, and only recently raised growth capital. We unpack how Libas cracked the apparel supply chain, why speed became its DNA, and what it takes to serve both premium and mass customers at scale. From marketing choices and channel experiments to the founder’s own evolution, this conversation is packed with lessons for anyone building in consumer India. ⏱️ Timestamps 0:00 - Coming up 1:06 – Introduction 2:13 – Where does the business stand today? 3:52 – How was it starting a brand in 2013–14? 6:18 – What were your early customer insights? 8:22 – What does an Indian consumer look for, and how is Libas different? 10:59 – What should the DNA of a fashion brand in India be? 13:08 – How did you simplify the apparel supply chain? 15:45 – What are the key factors in design and product building? 19:27 – Any example where speed led to quick sellouts? 21:23 – How do you approach sales channels? 24:06 – How did you test offline vs online, and what did you learn? 27:07 – Do customers really want fashion in 60 minutes? 32:04 – How has your marketing strategy evolved? 35:48 – What hasn’t changed in 10 years of brand building? 38:09 – How do you serve both premium and mass customers? 41:41 – Celebrity or influencer — what works better? 43:15 – Do you focus on short-term ROI or long-term recall? 44:24 – What did you hire for vs learn yourself as founder? 46:45 – Why bootstrap first and then raise funding? 49:30 – Why do you think your brand succeeded? 51:45 – What 2–3 things should a new founder get right? 54:09 – How do you stay close to customers? 57:05 – How do you hire and train great peo