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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 ...
Historical Perspective1960 Fabindia Inc established1976 Flagship store at Greater     Kailash, FOPL established1976 – 1994...
Fabindia – a unique business entity Twin Mandate :• A viable, profitable retail platform for products  created using hand-...
The Fabindia Business Model                                          - Traditional brand loyalty                          ...
Some factoids to understand us• Employee strength - 1500 +   – Fabindia Employees – 1100   – Contracted staff – 400• An “E...
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 ...
Alignment of IdeologyDriving business success while ensuring sustenance of  craft   – Hiring to translate passion for our ...
Shared OwnershipApprox. 70% of our employees across levels own the  company stock   – Opportunity for Wealth creation   – ...
Entrepreneurial work culture• Independent SBUs run the regions   – Decentralized   – Each store a profit center and each s...
Performance and Development Focus             Centres of Excellence   as drivers for service improvement and focus on     ...
Obligations of a COE                              To the             To the Store  To customer                           O...
Support provided to a COE                  •   Classroom                  •   On the jobTraining inputs   •   Technical   ...
Growth from Within• IJP process   – Opportunities for growth from within   – Setting people up for the next role   – Consi...
High level of transparency-All employees are treated as shareholders in decision   making• Simple HR processes and policie...
Empowering Women• 76% of management positions are staffed by women• Feeling secure, safe and empowered• Growth and leaders...
In Summary• We value our unique business model• We strive to align our business and employee ideologies• We empower our st...
THE VISIONARY
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Fabindia

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Transcript of "Fabindia"

  1. 1. Fabindia - A Fabric of our lives
  2. 2. 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
  3. 3. Historical Perspective1960 Fabindia Inc established1976 Flagship store at Greater Kailash, FOPL established1976 – 1994 Single store1999 – 2011 Grew from 5 stores to141 storesFabindia moved from shy toaggressive growth, all the whileensuring profitability in spite of thenear vertical growth
  4. 4. 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
  5. 5. The Fabindia Business Model - Traditional brand loyalty - Product accessibility - Visibility Customers - Range- Crisil rating of - Contemporary AA - - Belief in product- Inclusive ownership : approx. 70% of the staff across levels own company stock - Sustaining Craft Fabindia - Artisan empowerment Owners / Artisan Employees Community
  6. 6. 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 
  7. 7. So how do we make it all work ?
  8. 8. 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
  9. 9. Alignment of IdeologyDriving 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
  10. 10. Shared OwnershipApprox. 70% of our employees across levels own the company stock – Opportunity for Wealth creation – Opportunity to partner in success
  11. 11. 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• COC’s ensures Artisan empowerment – Sustainable community development
  12. 12. Performance and Development Focus Centres of Excellence as drivers for service improvement and focus on continuous development
  13. 13. Obligations of a COE To the To the Store To customer Organization Team• Consistent • Conformity to all • Highly motivated standards of processes team service • High productivity • High investment• Excellent level • Excellent in team member of customer customer development interaction feedback • Stress reduction• High levels of • Training ground in the working personalization for new environment as• Very high employees / process initiative to get stores conformation feedback and increases give follow up
  14. 14. Support provided to a COE • Classroom • On the jobTraining inputs • Technical • Behavioral • Motivation through visibility and recognition Other inputs • Process changes / inputs
  15. 15. 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
  16. 16. High level of transparency-All 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
  17. 17. Empowering Women• 76% of management positions are staffed by women• Feeling secure, safe and empowered• Growth and leadership • Women Intrapreneurs
  18. 18. 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.
  19. 19. THE VISIONARY
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