FABINDIA MOVES ON UK WOMENSWEAR COMPANY EAST
January 1st, 2009
BY RAGHAVENDRA VERMA
INDIAN garment retailer Fabindia has acquired 25% stake in UK's bohemian womenswear vendor EAST with an option to obtain total control within three years. A company spokesman told just-style that, "there are similarities in the approach and sourcing (between the two companies) and that is what we are looking forward to." However the amount paid has not been disclosed. The New Delhi-based company generates annual revenues of US$60 million through its 97 retail stores across India, and exports to 34 countries, while EAST has 52 ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.