FabAlley’s parent company HSE bags Rs 40 crore funds to expand its offline presence
- ByStartupStory | May 20, 2022
Women’s fashion brand FabAlley and India’s parent company High Street Essentials (HSE) have raised Rs 40 crore from Stride Ventures. The funds collected will be utilised to enhance HSE’s offline presence by opening exclusive brand outlets (EBOs) having company-owned stores, and franchises with an additional 100 large format retail stores in the coming 12-18 months. It will further deploy funds to expand its footprint worldwide by setting up its first offline store in Malaysia.
The brand was founded in 2012 by Shivani Poddar and Tanvi Malik and had two main women-focused brands Indya and FabAlley. Under the brand Indya, it sells women’s ethnic clothes, as well as jewellery while in FabAlley, women’s western clothing and loungewear, are sold. The company has secured Rs 25.5 crore in Series D funding in May last year for its business expansion.
HSE sells its products and accessories through its website, online marketplaces, offline retail stores along with large format chains including Lifestyle and Shoppers Stop and others. The company also claims to have more than 30 exclusive brand-owned outlets all over India and partnerships with international companies like Amazon, US, Zalora and Nishi.
The company also earns an equal proportion of its gross revenue from both offline and online channels. The Luxe brand of Indya sells products in the range of Rs 6,500 to Rs 18,000 which constitutes clothing of occasion and festive wear categories. It would also have 100 varieties of women’s clothing that would be launched in the coming months. HSE’s competitors include Global Desi, WESTSIDE, Pantaloons, Chumbak, and FabIndia in the D2C segment.
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