Fabindia to open nine new stores by March

Ethnic lifestyle retailer Fabindia plans to open nine more stores in the country by the end of this fiscal and three new stores in Odisha by June next year, said a top company official.

“In this financial year, we have already opened 16 stores and nine more will come up by March. In addition, two stores have also been opened abroad”, said Subrata Dutta, chief executive officer, Fabindia Overseas Pvt Ltd at the launch of its second store in the city.

At present, the company has 180 stores in 74 cities across the country with seven stores abroad and an online presence. The online platform contributes about two to three per cent to the total business.

In Odisha, the retailer plans to add three more stores by June next year. The life style retailer today opened its second store in the city with its business associate Panda Travel Mart.

“We will be opening three more stores in the state by June, 2015. Out of this, one store will be in Bhubaneswar and two others at Cuttack and Rourkela”, Dutta said.

The company eyes Rs 1000 crore turnover by the end of this financial year.In overseas locations, Fabindia has stores in Bhutan, Italy, Mauritius, Singapore, Nepal and United Arab Emirates (UAE).

Dutta felt the Khadi export markets have not been exploited yet. Marketing and supply chain management are the only two problems hindering development of the Khadi sector, he added.