It’s been referred to as the ‘Fabric of India’ – a perfect label for a brand that’s led the revolution of taking first Indian fashion, then the country’s extensive beauty knowledge and indigenous health recipes across the world.
And today, Fabindia – ‘India’s largest private platform for products that are made from traditional techniques, skills and hand-based processes’ (it works with over 40,000 craft-based rural producers) is on it’s way to becoming part of a global empire.
L Capital Asia – a private equity fund backed by LVMH and Groupe Arnault – has acquired an 8 per cent stake in this ethnic-wear brand, sparking a plethora of debates: What does it mean for such an intensely indigenous and sustainable practises-based brand to become a part of the LVMH empire, which is seen to be more about luxury and bottom lines? Does this acquisition of a mass-market “fast-fashion” brand (Fabindia is the country’s indigenous answer to H&M and Zara) indicate a shift in LV’s traditional uber-luxe targets? Will Fabindia show a change in direction from it’s half-a-century-old legacy of organic materials, ethnic raw materials, sustainable production and affordable pricing? In short, is this a smart move for LV? And will it corrode Fabindia’s traditional, crafts-driven base or infuse more funds into the brand, thereby increasing scope for growth?
In short, is this a step towards the growth or the end of an indigenous, rural crafts-based platform. What do you think?
- LVMH makes a commitment to India (awardz.wordpress.com)
- Spotlight on: Barnard Arnault, Chairman, LVMH (independent.co.uk)
- IN THE NEXT FEW YEARS INDIA WILL REACH ONE OF THE TOP TEN LARGEST CONSUMERS OF CHAMPAGNE ….says Daniel Lalonde of LVMH (lizpalmer.wordpress.com)