Indian ethnic lifestyle retailer Fabindia has announced plans of entering the western wear market with the launch of its new brand ‘Fabels’, which is expected to add 10 percent to the company’s turnover, reports The Economic Times quoting PTI.
Initially, the brand would be available in 10 Fabindia stores across the country, under the shop-in-shop concept, and would gradually be present in a total of 18 stores, by the end of the year.
Fabindia CEO Subrata Dutta said that the western wear segment has great potential, and Fabels is a line which aims at targeting the youth of the country, who are aware of the different cultures in the world.
Mr. Dutta also added that the company would be expanding its 175-store network by adding 50 new stores in the domestic market, by the end of the current financial year.
The new stores would be a mixture of the company-owned as well as the franchise models, Mr. Dutta added.
The Fabindia CEO also informed that the company which has presence in Singapore, Dubai and Rome, would be expanding its overseas networks as well, by opening a new store in Hong Kong, as well as adding more stores in Singapore and Dubai.
With 175 stores, Fabindia is India’s largest private platform for products that are made from traditional techniques, skills and hand-based processes. It links over 80,000 craft based producers to modern urban markets, thereby creating a base for skilled, sustainable rural employment, and preserving India's traditional handicrafts in the process.