Oct 11, 2011

Risk Capital Partners Divests 50% of East Shareholding

Risk Capital Partners have sold 50% of their shareholding in womenswear retailer EAST, to clothing and accessories retailer Fabindia, based in New Delhi. This brings Fabindia’s total stake in EAST to 62.5%.

With this acquisition, Fabindia will be able to get EAST products to India and also improve its apparel line using the design capabilities and technology of EAST.

Commenting on the development, Fabindia’s Sunil Chainani said: “Though the retail scenario in the UK is going through a difficult turn, our experience over the last two years with EAST has been positive and we are confident that EAST will add a lot of value to the Fabindia group.”