High Street Essentials Raises Rs 40 Cr In Fresh Funding
High Street Essentials, the parent company of women’s fashion brands Faballey and Indya, has raised Rs 40 crore from Stride Ventures.
As per the startup, the funding will be utilised for expanding the company’s offline footprint. The Delhi-based fashion house also plans to double its offline presence by adding 30 more exclusive brand retailers (EBOs)–a mix of company-owned stores and franchises, and another 100 shop-in-shops in large format stores over the next 12-18 months.
High Street Essentials | Omnichannel Fashion Brand
Started by Shivani Poddar and Tanvi Malik in 2012, HSE has established itself as one of India’s leading omni-channel fashion houses. Its brands FabAlley and Indya currently retail through their websites and apps, horizontal marketplaces, and large format chains such as Lifestyle, and Shoppers Stop, along with 30+ exclusive brand stores across the country.
Speaking about the development, Shivani Poddar and Tanvi Malik, Co-Founders, HSE, said,
“We value the trust and confidence that Stride Ventures has shown in us and are excited about building the company with their support. The investment has come at the right time as we kick start our next leg of success with key category expansions and scaling our offline and online presence to further solidify our position as a leading women’s lifestyle and fashion retail company.”
High Street Essentials also announced brand Indya’s foray into the premium occasion wear category, with a new range, Indya Luxe, that will retail through the Indya website, key international marketplaces, and EBOs.
As per the company, the Luxe range comprises ensembles suitable for occasions and festive wear, priced between Rs 6,500 and Rs 18,000. The new range, which is to be launched over the next four to six months, will be a key product expansion focus area for the company going forward.
High Street Essentials has also expanded its global reach by partnering with international marketplaces such as Namshi, Amazon US, and Zalora.
For more stories of startups, click Startup Stories.
Follow us and connect with us on Instagram, Facebook, Twitter and LinkedIn.