What is the history behind FabIndia’s ₹16,000 crore valuation?

FabIndia is making ₹1,600 crores in revenue and had an estimated valuation of ₹16,000+ crores when it filed for an IPO in 2022. But the shocker is that it was started by an American as an exporting company in 1958. John started FabIndia to uplift artisans and later, his son, William pivoted it into a lifestyle retail giant.