Published
Sep 27, 2019
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Fabindia plans to reach 40 experience centres by March 2020

Published
Sep 27, 2019

Ethnic lifestyle retailer Fabindia is betting big on its new format experience centres for growth in the Indian market and plans to take its count to 35 to 40 centres before the end of the current financial year.
 

Fabindia plans to reach 40 experience centres by March 2020 - Fabindia


Fabindia experience centres have been received well across the country leading to higher sales. The company will be investing around Rs 100 crore ($14.1 million) for opening these centres this fiscal.
 
The company expects strong sales during the upcoming festive season despite the slowdown and expects a rise in revenue on the back of its retail expansion this fiscal.

Fabindia had reported revenue of Rs 1,060 crore for the fiscal year 2017-18 with a profit of Rs 59 crore.
 
“FabIndia will have nearly 35 to 40 experience centres across the country by the end of this fiscal. The centres have been well received and more centres would be opened by March 2020. We will invest Rs 3 crore in each centre,” Fabindia’s managing director Viney Singh told PTI.
 
“Even though the sentiments were down in the last three months due to economic slowdown, the company expected it to pick in the coming festive season,” Singh added.
 
Fabindia is also working with 60,000 artisans from 25 States for its products and recently extended its product portfolio across categories.

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