Fabindia targets metro cities, overseas markets for growth

By

Maverick Martins

Published
Dec 4, 2017

Ethnic apparel brand Fabindia is eyeing the metros and global markets for future growth as it plans to open 50 stores every year to continue its dominance in the ethnic wear market.

Fabindia Overseas founded by American John Bissell in 1960 is targeting international markets for future growth as the Indian market get saturated with majority brands turning to khadi for growth.

Amidst strong competition from Khadi & Village Industries Commission (KVIC) brands and other private brands like Manyavar, Fabindia is looking to cautiously expand in India and will be opening stores in metros, mini metro and tier 2 cities for now.

Fabindia company reported strong results for the last fiscal with a revenue of Rs 1037 crore (approx $160.8 million) and profit of 97 crore (approx $15 million), a surge of 14 percent and 327 percent respectively from a year ago.

Fabindia is looking to further scale up its business by adding 50 new stores in Indian and international markets every year. The brand sells ethnic wear for men, women and kids besides furniture, home decor, organic personal care and food items for which there is great demand from the global audience.

"We would continue to add 40 to 50 stores every year. We would open stores in Fiji and Sri Lanka," in collaboration with local partners," Fabindia President Retail Ajay Kapoor was quoted as saying by a news agency.

The company which added its second experience centre in Mumbai recently plans to add 10 more by the end of 2018 mainly in metros like Mumbai, Delhi and Bengaluru as these cities contribute around 70 percent to the company’s revenue.

Fabindia has over 280 stores across India in 95 cities and presently operates stores in overseas market such as Singapore, the UAE, the US, Malaysia and Mauritius. It is also available on all leading e-commerce websites.