Fabindia increases stake in UK’s EAST

Fabindia Overseas has increased its stake to 62.5 percent

in EAST, the UK-based mainstream women’s wear retailer. This has made Fabindia a majority stake holder in the company. Fabindia first acquired a 25.1 per cent stake in the company in January of 2009. It now has the option to buy out the balance stake and take complete control of EAST within a year. Despite a slowdown in Europe’s economy, Fabindia’s experience with the retailer has been positive and it feels that EAST will add a lot of value to the Fabindia group. As far as EAST is concerned, Fabindia’s stake gives them security and opens a galore of exciting opportunities during signs of economic slowdown.

EAST originated in 1986, but adopted its new name and brand identity in 1994. With a total of 99 outlets, EAST has 65 stores and 35 concessions spread across the UK. It offers high street fashion with eastern influences – including India and has introduced two sub brands – EAST Artisan and EAST Boutique.

With 144 stores across 60 cities in India and with six international stores, Fabindia is India’s largest retail platform