FabIndia plans 'IPO' as soon as next year

08 December 2021,  Mumbai:

FabIndia is planning an initial public offering. The company may submit the draft red herring prospectus as soon as early next year. The IPO will largely consist of investors selling existing shares.

FabIndia is a retailer of clothing and furniture inspired by traditional Indian crafts. FabIndia’s latest range for women and men has a color palette of aubergine, icy turquoise, and charcoal. The collection’s north Indian inspirations can be seen with layered styling and bold silver jewelry. The brand retails from dedicated e-commerce store and chain of outlets across India.

The brand relaunched what was its first ever store in New Delhi in September and launched an ethical clothing line in the same month. Founded in 1960 to showcase Indian handloom textiles to the world, FabIndia sources a large share of its products from villages across India. It believes in giving employment to craftsmen where they can do their work in their own environment. The company connects more than 55,000 rural producers to urban markets, and runs its own school with nearly 500 students. FabIndia has also launched four strategic business units, home and lifestyle, personal care, FabCafe and e-commerce.

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