FabIndia news and archive

East: reduced annual pre-tax losses and more closures

Fabindia owned womenswear chain East, has narrowed pre-tax losses as it looks to exit unprofitable stores on the high street. The fashion retailer, which runs 107 shops across the UK, reported like-for-like sales up by 0.2 percent during the year to the end ofMarch. Driven by better sales, pre-tax losses at East narrowed from 1.5 million pounds...

Design

Fabindia to retail products on Myntra.com

Fabindia, India’s largest private retail brand of craft based products has tied up with Myntra.com to retail its products online. Myntra.com, the largest online destination for fashion and lifestyle products in the country will retail 26 product categories from Fabindia via its online platform myntra.com/fabindia. These will include men’s wear,...

Design

Premji Invest acquires 7% stake Fabindia

Fabindia has sold seven per cent stake in the company to Azim Premji’s Premji Invest for about Rs 125 crores to fund its proposed expansion plans. After selling 8 per sent stake to L Capital, the private equity arm of luxury conglomerate LVMH Group a month ago, this is the second move by the retailer to spread its network across the country....

Design

Carlyle grabs stake in Fabindia

Global private equity major Carlyle has grabbed an equity investment in ethnic wear chain Fabindia. The latter would utilise the funds generated through stake sale to expand its network of small-format stores in Tier II, III cities. The deal values the company at Rs 1,400 crores. The buzz is that Carlyle outbid top private equity firms like Bain...