FabAlley's Parent Company Secures Rs 40 Cr From Stride Ventures
On the heels of the fund raise, the fashion house has also announced brand Indya’s foray into the premium occasion wear category, with a new range, Indya Luxe
Delhi-based fashion house, High Street Essentials Pvt. Ltd. (HSE), the parent company behind women’s fashion brands, FabAlley and Indya, has raised INR 40 Cr from Stride Ventures. On the heels of the fund raise, the fashion house has also announced brand Indya’s foray into the premium occasion wear category, with a new range, Indya Luxe. The Luxe range comprises of intricately detailed ensembles suitable for occasion & festive wear, priced between INR 6,500 and 18,000.
The launch is informed by the burgeoning, recession-proof & relatively price inelastic nature of the Wedding wear industry in the country and strategically aligns as a step-up range with the brand’s signature value-conscious festive core DNA. The line consists of 100+ ornate lehenga sets, glamorous sarees, anarkalis and sharara sets, poised to be launched over the next 4-6 months and will be a key product expansion focus area for the company going forward. Indya Luxe will retail through the Indya website, key international marketplaces, and EBOs.
Started in 2012 by Shivani Poddar and Tanvi Malik, HSE has pioneered fast fashion in the country and is among the first Indian fashion retailers to have a robust omni-channel retail model. HSE’s brands, FabAlley and Indya, currently retail through their websites and apps, horizontal marketplaces, and large format chains such as Lifestyle, Shoppers Stop, along with 30+ exclusive brand stores across the country. The company has also expanded its global reach by partnering with international marketplaces such as Namshi, Amazon US, and Zalora.
With a wide domestic and international D2C footprint and a strong offline comeback post the pandemic, the fashion house currently sees an equal split of revenue from the two channels.
Around The World