Fabindia sells clothing, home textiles, personal care and food, with most kurtas and shirts between ₹1,000 and ₹3,500. For six decades it has sold them with a story attached: that buying them supports a rural craft economy the company helped build, and once part-owned.
Fabindia built sixteen artisan-owned supplier companies from the mid-2000s; Forbes India reported in 2017 that fourteen had been wound up after share buy-backs in 2013 and 2014.
Its About Us page, read on 11 September 2026, describes a network of over 55,000 craft-based rural producers, and its blog names Rangsutra, an artisan-owned company of about 2,000 people, as a supply partner.
Fabindia Limited is independent: three Bissells are named as promoters in its own filing with the market regulator, and William Nanda Bissell is Managing Director. On Myntra, read on 11 September 2026, its 11,274 listings carried a median MRP of ₹1,784, and across 200 of them the platform charged 90.4% of MRP with only 88 reduced. Its pages do not publish a Handloom Mark, India Handloom Brand or GOTS certification, and most of the artisan-owned supplier companies it set up were wound up in 2013 and 2014.
The company behind Fabindia
- Brand owner
- Fabindia Limited, CIN U74899DL1976PLC008436, RoC Delhi, status active
- Founded
- Business dated to 1960 by John Bissell; the company on the register from 14 December 1976
- Headquarters
- Vasant Kunj, New Delhi
- Ownership
- Independent — the founder’s son is Managing Director and the family sits in the promoter group
- Category
- Apparel, home textiles, personal care and food
- Stores
- 338 across India as at March 2025, per its rating agency; a company executive said “over 350” in November 2025
- Price band in India
- Median MRP ₹1,784 on Myntra, which places it mid-range on this site’s apparel bands
- Available in India
- Own stores, fabindia.com and Myntra
Two founding dates are both true of different things. CRISIL, reading the accounts in August 2025, records that John Bissell set the business up in 1960 to export upholstery fabric and rugs, and that domestic selling began in 1976 with the first outlet in New Delhi. The company on the register dates from 14 December 1976.
The company is Fabindia Limited today, converted from Fabindia Overseas Private Limited. Its own draft offer document dates the conversion to a public limited company to 22 October 2021, three months before the IPO filing.
Who owns Fabindia
The corrigendum Fabindia filed with the Securities and Exchange Board of India on 9 November 2022 names the promoters: Bimla Nanda Bissell, William Nanda Bissell, Monsoon Latane Bissell, Madhukar Khera and JLB Partners Holding Inc. William Nanda Bissell, the founder’s son, is Managing Director, and Monsoon Bissell has been a director since June 2000.
Premji Invest bought 7% for ₹125 crore in March 2012 and then L Capital’s 8% for about ₹360 crore in February 2016. No report says what those purchases added up to afterwards, and Premji Invest’s own portfolio page names no percentage and no date.
The nearest thing to a cap table on the record is the selling-shareholder schedule in the draft offer document of January 2022 — a filing later withdrawn. It listed PI Opportunities Fund I at 30,106,560 shares, William Nanda Bissell at 23,001,400, Bimla Nanda Bissell at 12,214,970 and Madhukar Khera at 8,875,080. The Premji Invest fund is the largest single holding there, but nothing published makes it a controlling one, no filing read shows an investor able to appoint a majority of the board, and the founding family still runs the company. That is an independent company with institutional investors in it, not a private-equity-owned one.
The IPO Fabindia withdrew
Fabindia filed a draft red herring prospectus with SEBI in January 2022 — the most detailed primary document it has ever put in public, and one it later withdrew, which is why every figure taken from it here carries that label. The offer was a fresh issue of up to ₹500 crore plus an offer for sale of 25,050,543 shares, reported at the time as an issue of about ₹4,000 crore. SEBI issued its observations — the clearance a company needs to proceed — on 2 May 2022. On 27 and 28 February 2023 the company confirmed it had withdrawn the issue, with a spokesperson saying: “The current market conditions were not seen to be conducive for listing of our size.”
One detail from that filing was widely reported: promoters were to transfer 775,080 shares in all, reported as about eight lakh, to artisans and farmers engaged with the company, as part of the offer. The offer was withdrawn in February 2023.
The artisan claim, and what happened to the companies behind it
What the company built
From the mid-2000s Fabindia organised its suppliers into community-owned companies — regional firms in which the craftspeople supplying them held shares. Forbes India reported in October 2012 that sixteen existed, that a vehicle called Artisans Micro Finance Private Limited held a stake in each, and that about 40,000 artisans worked across them, receiving more regular work and dividends.
Fabindia Limited was named as manufacturer on all 40 Myntra product records read, and India as the country of origin.
What happened to it
Forbes India returned to the story on 17 January 2017 and reported that the structure had been unwound. Sixteen community-owned companies existed by the end of FY08, Fabindia holding 25% to 45% of each and artisans the rest through the micro-finance vehicle. That vehicle spent about ₹90 crore buying back shares in 2013 and 2014. Fourteen of the sixteen were wound up; two continued, one in Odisha and one in Rajasthan. An intended integration that would have made 35,000 artisans direct shareholders in Fabindia did not go ahead.
No source we read gives a reason for the unwinding, and this page does not offer one.
What the company publicises now
The Rajasthan survivor is identifiable. A Fabindia blog post of 4 June 2026 calls Rangsutra Crafts India Limited, incorporated in Bikaner in 2006, one of India’s most successful micro-enterprises, with the artisans themselves as shareholders — over 2,000 of them across nine states, 80% rural women. It describes Fabindia as one of Rangsutra’s earliest strategic institutional investors, and the present relationship as a supply-chain partnership.
Fabindia’s About Us page, read on 11 September 2026, says the company “links over 55,000 craft based rural producers to modern urban markets”, without a date or method. Press coverage has used “over 40,000”.
Fabindia publishes no rate card, wage floor or supplier list, so there is no public way to check what a maker is paid for a garment. Read the craft claim as a description of a sourcing network, not as a disclosed wage.
No certification is published
Fabindia’s About Us page claims traditional techniques, skills and hand-based processes, products that are natural and craft-based, and the preservation of India’s traditional handicrafts. It names no certification, no standard, no mark and no test. Its sustainability post of 24 September 2025 claims natural materials and resource-conscious methods, and that around half its food products are naturally sourced. That page names no certification, standard or test either.
No Handloom Mark, India Handloom Brand or GOTS certification appears on the brand pages we read on 11 September 2026. That concerns what is published, not how the cloth is made.
What Fabindia costs in India
Fabindia is made here: across 40 Myntra product records read in full on 11 September 2026, the declared origin was India on all 40. Import duty is therefore not in the price, and any explanation of an Indian price that reaches for customs does not apply here.
The brand facet on Myntra carried 11,274 Fabindia listings that day. Two hundred of them is a sample rather than a full catalogue, and on that sample the platform charged 90.4% of MRP, with only 88 reduced at all. The median MRP was ₹1,784, across 32 distinct MRPs and 15 price rungs.
That is a different way of selling from most of Indian ethnic wear. Libas read at a median charged price of ₹1,648 on 7 September 2026 with a median discount of 57% among its reduced listings, and Soch at ₹2,089 charged with a median discount of 45%. Biba‘s 4,064 listings carried a median MRP of ₹2,799 against ₹1,749 actually charged. Fabindia’s MRP sits far closer to its selling price than any of them.
Across the same day’s readings, the brands charging closest to MRP are also the ones whose garments name the fewest companies as legally answerable for them.
| Brand | Share of MRP charged, 200 listings | Companies named as manufacturer, 40 records |
|---|---|---|
| Manyavar | 100% | 1 |
| Jockey | 100% | 6, all Page Industries Limited |
| Fabindia | 90.4% | 2, both Fabindia Limited |
| Chumbak | 79.3% | 13 |
| Roadster | 37.4% | 18 |
| Killer | 30.3% | 16 |
All figures read on Myntra on 11 September 2026. Two hundred listings and forty full product records per brand.
Fabindia sits near the top of that table, and the detail counts in its favour. The declared manufacturer was Fabindia Limited itself on every one of the 40 records, under two spellings of the same name; Fabindia was the seller of record on 37, and a net quantity appeared on 34. The Legal Metrology declaration names the company answerable for the goods, not necessarily the workshop that sewed them — but a brand that puts its own name on that line every time is doing something most of the market does not.
What the accounts show
Fabindia is unlisted and publishes no results, so the best-sourced series is its rating agency’s. CRISIL has published figures from the audited accounts three times in two years, on two different bases.
| Financial year | Consolidated revenue | Which CRISIL document, and on what basis |
|---|---|---|
| FY20 | ₹1,508 crore | 23 January 2024, group as then constituted |
| FY22 | ₹1,373 crore | 23 January 2024, group as then constituted |
| FY23 | ₹1,635 crore | 23 January 2024, group as then constituted |
| FY23 | ₹1,282 crore | 22 August 2025, excluding Organic India |
| FY24 | ₹1,218 crore | 22 August 2025, excluding Organic India |
| FY25 | ₹1,230 crore, estimated | 22 August 2025, excluding Organic India |
The two FY23 figures — ₹1,635 crore and ₹1,282 crore — are on different bases: the later document states that its series excludes Organic India, the wellness business Fabindia sold. Anyone quoting a Fabindia revenue number should say which document and basis it uses. A mirror of the corporate register puts FY25 at ₹1,309.46 crore; CRISIL’s figure for that year is an estimate.
Citing filings with the Registrar of Companies, Business Today reported a profit of ₹101 crore in FY19 and ₹34 crore in FY20, and Indian Retailer reported losses of ₹117 crore in FY21 and ₹39 crore in FY22. An unlisted-share dealer’s page reproducing the consolidated accounts — a reproduction, not the filing — puts FY23 at a loss of ₹121.08 crore and FY24 at ₹101.74 crore.
The balance sheet was changed by the Organic India sale. Tata Consumer Products told the exchanges on 16 April 2024 that it had completed the purchase of 99.99% of Organic India’s paid-up equity from Fabindia Limited. Neither Tata document states the price. CRISIL records a profit on the sale of ₹650 crore, says Fabindia retired its external debt out of the proceeds, and reports the company debt-free as at 31 March 2025 — against ₹741 crore of consolidated debt two years earlier.
The store count
- 31 March 2023355 stores — 231 owned, 124 franchisee
- 31 March 2024344 stores — 208 owned, 136 franchisee
- March 2025338 stores — 212 owned, 126 franchisee
- November 2025“Over 350 stores across India”, per a company executive
Three counts from the accounts, and one from the company eight months after the last of them.
Store counts as published by CRISIL on 23 January 2024, in its rationale dated 15 April 2024 and on 22 August 2025; the November 2025 figure as quoted in Indian Retailer.
No source we read gives a reason for the fall from 355 to 338, so this page attributes none. The mix moved as well: owned stores went 231, then 208, then 212, while franchisee stores went 124, then 136, then 126.
Who Fabindia is actually for
Fabindia suits a buyer who wants Indian cotton and handloom-style clothing in natural colours, at a price that is mostly the price on the tag, from a company that puts its own name on the accountability line. It works for office wear in a hot climate and for home textiles where the alternatives are mostly unbranded.
It is a poor fit for anyone shopping on discount: the sale-rail habit that works across Indian ethnic wear does not work here. A buyer who wants published certification or wage data behind the craft description will not find it on the pages read.
Reputation
We found no decided court judgment, regulator’s order, penalty or product recall naming Fabindia.
The episode most readers will remember is from October 2021, when Fabindia promoted a capsule of products named “Jashn-e-Riwaaz”. It drew online criticism, and the company took the promotional post down. In a statement reported on 19 October 2021, it said the capsule was “a celebration of Indian traditions” and was not its Diwali collection.
Buying Fabindia in India
Read who is answerable
Scroll to the declaration block on any Indian listing. On the 40 Fabindia records read, it named Fabindia Limited itself as manufacturer every time.
Ask what the craft claim is backed by
No certification is published on the pages read. If handloom is why you are buying, ask the store which unit made the piece, and treat “handcrafted” on a swing tag as a description rather than a certified claim.
Check the seller name, not just the brand name
Fabindia was the seller of record on 37 of 40 listings read. The seller line tells you whether you are buying from the brand’s own operation or from a trading company reselling it.
Common questions
Who owns Fabindia?
Fabindia Limited is independent. Its own filing with the market regulator, dated 9 November 2022, names Bimla, William and Monsoon Bissell, Madhukar Khera and JLB Partners Holding Inc as promoters, and William Nanda Bissell is Managing Director. Premji Invest is an investor, with no percentage published anywhere.
Is Fabindia listed on the stock exchange?
No. It filed a draft prospectus in January 2022, received SEBI’s observations on 2 May 2022, and withdrew the issue in late February 2023. A spokesperson said market conditions were not seen as conducive for a listing of its size. No refiling has been reported since.
Does Fabindia really work with 55,000 artisans?
Its About Us page says it links over 55,000 craft-based rural producers to urban markets; press coverage uses “over 40,000”. Its blog names Rangsutra, an artisan-owned company with over 2,000 artisans across nine states, as one partner.
Did Fabindia’s artisans ever get shares?
Some did, through the community-owned supplier companies. Forbes India reported in 2017 that about ₹90 crore of those shares were bought back in 2013 and 2014 and fourteen of the sixteen companies wound up. A separate transfer of 775,080 promoter shares to artisans and farmers was part of the 2022 share sale, which was withdrawn in February 2023.
Is Fabindia’s handloom certified?
Nothing on the brand’s pages read on 11 September 2026 carries a Handloom Mark, an India Handloom Brand tag or GOTS certification. That concerns what is published, not how the cloth was made.
Is Fabindia cheaper on Myntra?
Not by much. Across 200 listings read on 11 September 2026 the platform charged 90.4% of MRP, with 88 reduced and a median MRP of ₹1,784. Most Indian ethnic-wear brands read on the same day sold far further below their tags.
How we research and verify brand audits: our methodology.
References
- ZaubaCorp, mirror of the corporate register, read 11 September 2026 — CIN, incorporation date, registered office, status and directors
- CRISIL Ratings, 22 August 2025 — the 1960 founding and 1976 first outlet, FY23 to FY25 revenue excluding Organic India, EBITDA, 338 stores, debt-free status and the ₹650 crore profit on sale
- Fabindia Limited, draft red herring prospectus, January 2022 — the conversion of 22 October 2021 and the selling-shareholder schedule. Later withdrawn
- SEBI, corrigendum to the draft offer document, 9 November 2022 — the promoters named, and the fresh issue of up to ₹500 crore
- Business Standard, 1 March 2012 — Premji Invest’s 7% purchase for ₹125 crore
- DealStreetAsia, 12 February 2016 — Premji Invest buying L Capital’s 8% for about ₹360 crore
- Premji Invest, portfolio page, read 11 September 2026 — names Fabindia and states no percentage or date
- SEBI, record of the draft offer document, January 2022 — the filing itself
- Business Today, 22 January 2022 — offer structure, the 25,050,543-share offer for sale, the lead managers and the promoter share transfer
- The Federal, 23 January 2022 — the 400,000 and 375,080 shares intended for artisans and farmers
- Indian Retailer, 24 January 2022 — the valuation sought and the store and farmer counts at the time of the filing
- Business Standard, 2 May 2022 — SEBI’s observations on the issue
- The Federal, 28 February 2023 — the withdrawal and the company spokesperson’s words
- Business Standard, 27 February 2023 — the withdrawal
- Forbes India, 8 October 2012 — sixteen community-owned companies, the micro-finance vehicle, about 40,000 artisans, dividends, ₹500 crore of sales and 167 outlets
- Forbes India, 17 January 2017 — the ₹90 crore of buy-backs in 2013 and 2014, fourteen companies wound up and two continuing, the 35,000-artisan integration that did not go ahead, and the share performance
- Fabindia, 4 June 2026 — Rangsutra’s 2,000-plus artisans across nine states, the artisan shareholding and Fabindia’s described role
- ZaubaCorp, mirror of the corporate register, read 11 September 2026 — Rangsutra Crafts India Limited, Bikaner, CIN U52511RJ2006PLC026497
- Fabindia, About Us, read 11 September 2026 — the 55,000 craft-based rural producers claim and the craft language, with no certification named
- Fabindia, 24 September 2025 — the sustainability claims and the food sourcing line, with no certification, standard or test named
- Myntra brand facet and 40 full product records for Fabindia, Manyavar, Jockey, Chumbak, Roadster and Killer, read 11 September 2026 — the 11,274 listings, the 200-listing price sample, the medians and price rungs, the declared manufacturers, sellers of record, country of origin and net quantity
- CRISIL Ratings, 23 January 2024 — FY20, FY22 and FY23 consolidated revenue, FY23 EBITDA, 355 stores at 31 March 2023 and consolidated debt
- CRISIL Ratings, rationale dated 15 April 2024 — FY22 to FY24 consolidated and standalone revenue, and 344 stores at 31 March 2024
- The Company Check, mirror of the corporate register, read 11 September 2026 — FY25 revenue of ₹1,309.46 crore
- Business Today, 9 September 2021 — FY19 and FY20 profit from filings with the Registrar of Companies
- Indian Retailer, 19 September 2022 — FY21 and FY22 revenue and losses from register filings
- WWIPL, unlisted-share page reproducing the consolidated accounts, read 11 September 2026 — FY23 and FY24 losses and earnings per share
- Tata Consumer Products, 12 January 2024 — definitive agreements to acquire Organic India
- Tata Consumer Products, exchange filing, 16 April 2024 — completion of the purchase of 99.99% of Organic India from Fabindia Limited
- Indian Retailer, 6 November 2025 — the “over 350 stores” figure attributed to a company executive
- The Print, 19 October 2021 — the capsule name, the criticism, the takedown and Fabindia’s statement
- The Week, 19 October 2021 — corroboration of the same events
On the things a buyer can check, Fabindia does better than most of the Indian clothing market. India was the declared origin on 40 of 40 records read on 11 September 2026, Fabindia Limited itself was named as answerable for the goods on every one, and the platform charged 90.4% of MRP rather than running a permanent sale against an inflated tag. At a median MRP of ₹1,784 that is a fair price, honestly presented.
The craft story is told in words rather than documents. The artisan-owned supplier companies of the 2000s were mostly wound up in 2013 and 2014, according to Forbes India; today the About Us page describes over 55,000 producers, and the brand publishes no handloom certification, wage data or supplier list. Buyers who value that disclosure will find little of it here.
Buy Fabindia for the cotton, the cut and a price close to the tag; if certified handloom matters to you, look for a certification mark on the piece.
