B2B commerce and financing platform OfBusiness is set to acquire the remaining 30% equity in Indian Design, a Bengaluru-based garment and home textile manufacturer, months after securing a majority stake in the company.
Indian Design, clocking an annual revenue of Rs. 1,300 crore (US $ 144 million) and supplies to major global brands such as H&M, GAP, Old Navy, Columbia and IKEA, is expected to significantly deepen OfBusiness’s apparel supply network. Together with OfBusiness’s existing partnerships with Zara, Abercrombie & Fitch, Michael Kors, Uniqlo, Adidas and Skechers, the addition strengthens the platform’s ability to serve an extensive portfolio of international fashion retailers.
Co-founder Vasant Sridhar said the acquisition pushes the company’s apparel vertical to approximately Rs. 3,000 crore (US $ 332 million) in revenue, with nearly 80% of that coming from exports. He added that the wider goal is to build a comprehensive sourcing and design hub spanning garments, accessories and footwear, offering global brands a unified platform to streamline and consolidate their supply chains.
The move follows a period of strong financial performance for the OfBusiness Group. For FY ’25, the company reported consolidated revenue of Rs. 22,241 crore (US $ 2.46 billion) and profit after tax of Rs. 597 crore (US $ 66.15 million), supported by a net worth of Rs. 9,400 crore (US $ 1.04 billion).
