FabIndia to roll out 250 stores by 2010February 21st, 2008 - 8:50 pm ICT by admin
New Delhi, Feb 21 (IANS) Indian apparel and home furnishing firm FabIndia is planning to roll out 250 stores within the next two years with an approximate investment of Rs.2 billion. “Currently we have 78 stores and we are planning to increase it to 250 by 2010,” William Bissel, managing director of FabIndia, told reporters here on the sidelines of a retail conclave here Thursday.
The retail meet is organised by KAS Technopak India Pvt Ltd, a service provider to retailers and suppliers.
“We are also planning to open 80 new stores by next year at an estimated investment of Rs.700 million,” Bissel added.
The firm is actively looking at funding the investment through internal accruals.
The company is operated partnership with its suppliers, such as village artisans, has started running 18 community-owned companies and another 23 would be operational within next couple of years.
“Out of the 611 administrative districts in India, 350 have the potential to be our suppliers, but currently we have presence in about 150 of them, which we are in the process of strengthening,” Bissell said.
FabIndia sources its products from over 15,000 craftsmen and artisans across India. It has overseas presence in Rome, Dubai and Guangzhou.
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