Indian retailer Fabindia has snapped up 25 per cent of womenswear retailer East.

New Delhi-based retailer, Fabindia, has invested an unspecified amount in the company in return for the stake.

The management at East, which includes design director Penny Oliver, chief operating officer Suzi Spink and chief finance officer Jayne Worden, said in a statement: “We are thrilled to have received this investment and to gain a new partner that will help to fund exciting future developments for East opening up new retailing opportunities in India and other emerging markets such as Dubai, Qatar and Bahrain, where Fabindia already trade.

“We are looking forward to building on the natural synergies that exist between the brands for our mutual benefit."

Fabindia finance director Sunil Chainani will join the East board following the deal.