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    Fabindia - A Fabric of Our Lives

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    AnkitBarua
    Fabindia is a fabric and lifestyle retail brand that was established in 1960 with a twin mandate of running a profitable retail business selling handcrafted products while also creating sustainable jobs for craftspeople in rural communities. It has grown from a single store in 1976 to over 141 stores in 2011. Fabindia's unique business model aligns the interests of customers, employees, and artisans through high-quality products, shared ownership of the company, and artisan empowerment programs. Key aspects of Fabindia's culture include alignment with its mission, participative ownership, an entrepreneurial work culture with a focus on growth from within, transparency, and empowerment of women.

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    Fabindia - A Fabric of Our Lives

    Uploaded by

    AnkitBarua
    226 views19 pages
    Fabindia is a fabric and lifestyle retail brand that was established in 1960 with a twin mandate of running a profitable retail business selling handcrafted products while also creating sustainable jobs for craftspeople in rural communities. It has grown from a single store in 1976 to over 141 stores in 2011. Fabindia's unique business model aligns the interests of customers, employees, and artisans through high-quality products, shared ownership of the company, and artisan empowerment programs. Key aspects of Fabindia's culture include alignment with its mission, participative ownership, an entrepreneurial work culture with a focus on growth from within, transparency, and empowerment of women.

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    Fabindia is a fabric and lifestyle retail brand that was established in 1960 with a twin mandate of running a profitable retail business selling handcrafted products while also creating sustainable jobs for craftspeople in rural communities. It has grown from a single store in 1976 to over 141 stores in 2011. Fabindia's unique business model aligns the interests of customers, employees, and artisans through high-quality products, shared ownership of the company, and artisan empowerment programs. Key aspects of Fabindia's culture include alignment with its mission, participative ownership, an entrepreneurial work culture with a focus on growth from within, transparency, and empowerment of women.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    226 views19 pages

    Fabindia - A Fabric of Our Lives

    Uploaded by

    AnkitBarua
    Fabindia is a fabric and lifestyle retail brand that was established in 1960 with a twin mandate of running a profitable retail business selling handcrafted products while also creating sustainable jobs for craftspeople in rural communities. It has grown from a single store in 1976 to over 141 stores in 2011. Fabindia's unique business model aligns the interests of customers, employees, and artisans through high-quality products, shared ownership of the company, and artisan empowerment programs. Key aspects of Fabindia's culture include alignment with its mission, participative ownership, an entrepreneurial work culture with a focus on growth from within, transparency, and empowerment of women.

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    Fabindia - A Fabric of our lives

    Contents

    History of Fabindia Fabindia a unique business entity Some factoids about us What makes us a great place to work Alignment of ideology Shared ownership and Entrepreneurial work culture Growth from within Transparent Empowering women

    Historical Perspective
    1960 Fabindia Inc established 1976 Flagship store at Greater Kailash, FOPL established 1976 1994 Single store 1999 2011 Grew from 5 stores to 141 stores Fabindia moved from shy to aggressive growth, all the while ensuring profitability in spite of the near vertical growth

    Fabindia a unique business entity


    Twin Mandate :
    A viable, profitable retail platform for products created using hand-based processes The creation of skilled, craft-based sustainable jobs in the rural sector

    The Fabindia Business Model


    Customers
    - Traditional brand loyalty - Product accessibility - Visibility - Range - Contemporary - Belief in product

    - Crisil rating of AA - Inclusive ownership : approx. 70% of the staff across levels own company stock

    Fabindia

    - Sustaining Craft - Artisan empowerment

    Owners / Employees

    Artisan Community

    Some factoids to understand us


    Employee strength - 1500 + Fabindia Employees 1100 Contracted staff 400 An Equal Opportunity employer 1.78 -1 mix (Men- Women) 76% of the management are women Over 30% staff have been in the company over 5 years Ratio of HR to staff 1: 125 GPW results were very surprising for us

    So how do we make it all work ?

    The Fabindia Core Values


    Ownership of Company goals Mutual Respect and Humane Approach Fairness in our Intent Honesty in all our actions Result Orientation Continuous Improvement Leadership by Example

    Alignment of Ideology
    Driving business success while ensuring sustenance of craft Hiring to translate passion for our ethnic crafts and business ideology into satisfying careers Our hiring specifications for management levels tests candidates on their commitment to the above All induction and orientation processes reinforce the dual objectives of our business model Demonstrated belief in organizational values is one of the key parameters in performance assessment for senior roles

    Shared Ownership
    Approx. 70% of our employees across levels own the company stock Opportunity for Wealth creation Opportunity to partner in success

    Entrepreneurial work culture


    Independent SBUs run the regions Decentralized Each store a profit center and each store manager an entrepreneur with a P&L responsibility Profit sharing plans for over achievement COCs ensures Artisan empowerment Sustainable community development

    Performance and Development Focus

    Centres of Excellence as drivers for service improvement and focus on continuous development

    Obligations of a COE
    To customer
    Consistent standards of service Excellent level of customer interaction High levels of personalization Very high initiative to get feedback and give follow up

    To the Organization
    Conformity to all processes High productivity Excellent customer feedback Training ground for new employees / stores

    To the Store Team


    Highly motivated team High investment in team member development Stress reduction in the working environment as process conformation increases

    Support provided to a COE

    Training inputs

    Classroom On the job Technical Behavioral

    Other inputs

    Motivation through visibility and recognition Process changes / inputs

    Growth from Within


    IJP process Opportunities for growth from within Setting people up for the next role Considerate of individual needs relocations Humane approach in application of policy decisions Generalist skills being made specialized Functional and Behavioral competencies for every position Biannual assessment of development needs through multi source feedback IDPs and PIPs for every individual up to a certain level Strong alignment of the L&D curriculum with the competencies Training budget available even during the recession

    High level of transparencyAll employees are treated as shareholders in decision making


    Simple HR processes and policies Role of HR is to create disproportionate impact (1:125)
    work with each employee as an individual

    Empowering Women
    76% of management positions are staffed by women Feeling secure, safe and empowered Growth and leadership
    Women Intrapreneurs

    In Summary
    We value our unique business model We strive to align our business and employee ideologies We empower our stakeholders and encourage participative ownership of brand Fabindia We have a strong focus on development and growth from within Our core culture has not seen a dilution despite changes in our environment Every employee feels connected, recognizes his/her role in the success story that is Fabindia in spite of rapid growth.

    THE VISIONARY

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