Home / Knowledge / News / Textiles / Premji Invest secures 7% stake in Fabindia
Premji Invest secures 7% stake in Fabindia
02
Mar '12
Premji Invest, owned by Wipro's Chairman Azim Premji, has obtained a seven percent stake in Fabindia, India's largest private platform for products that are made from traditional techniques, skills and hand-based processes that include handicrafts and handwoven textiles.

The investment fund has acquired the stake for Rs. 1-1.25 billion, thus valuing the ethnic-wear company at more than Rs. 15 billion.

Fabindia proposes to launch 40 new stores in India, fortify its backend infrastructure and expand in foreign markets, particularly in the UK, where it already possesses a lifestyle outlets chain 'East'.

Fabindia, which began as a firm exporting home furnishings, was instituted by a young American, John Bissell, in 1960 to market India's varied craft traditions.

The in 1975, the firm established its first retail outlet in New Delhi's Greater Kailash, offering an entire range of durries, home linens and upholstery fabrics.

Till mid-to-late 1990s, retail remained an insignificant segment of the company's business, but when William Bissell inherited the firm from his father John Bissell, he developed it into a national retail brand.

Presently, Fabindia, which is popular for its handicrafts, kurtas and household furnishings, runs around 150 outlets in several cities and small towns like Trichi, Karnal and Raipur. Around 66,000 products from across 212 districts of India are sold at Fabindia outlets.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Kornit Digital

Textiles | On 28th Feb 2017

'Customisation is an advantage of digital printing'

Changing business models and companies' decision to reduce their...

Textiles | On 28th Feb 2017

China's textile & apparel exports up 10.2% in Jan 2017

Exports of textiles and garments from China resumed growth in the...

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search