17 March 2022, Mumbai:
Fabindia is an umbrella multi-category store brand with a unique ethnic, artisanal positioning across the categories of fashion, lifestyle, home décor.
Fabindia is a natural fit for global investors focused on environmental, social, and governance criteria, according to its chief financial officer.
“We are ESG in the way we operate in terms of connecting the artisans, the farmers,” Gopal Mishra said in an interview with Bloomberg News. “This is not that we have done something special for ESG or ticked those green boxes.”
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FabIndia Executive Vice Chairman William Nanda Bissell pointed to the New Delhi-based firm’s network of 40,000 artisans, spread across India’s villages and smaller towns, and said if FabIndia’s IPO is successful, it will serve as an example to other companies of how ESG is the wave of the future.
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The 66-year-old company is in talks with ESG funds and will make decisions on its investor lineup after the Indian stock market regulator clears its first-time share sale, Mishra said.
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CREDITS: Bloomberg ET (The news article has not been edited by DFU Publications staff).
