Fashion house- High Street Essentials raised around Rs 40 Cr

High Street Essentials Pvt. Ltd. (HSE), a Delhi-based startup, the parent company of women’s fashion brands Faballey and Indya, has raised Rs 40 crores. The funding round was led by Stride Ventures.

The new range of products is likely to be introduced over the next 4 to 6 months. The focal point of the company is the expansion of the business. Indya Luxe will market its products on the Indya’s official website, key international marketplaces, and EBOs.

The fresh funding capital of High Street Essentials will be utilized in the following ways:

For expanding the company’s offline footprint,
To double its offline presence by adding 30 more EBOs including an amalgamation of company-owned stores and franchises, and another 100 shop-in-shops this year.
In offline expansion towards international markets, with its first physical store in Malaysia.

High Street Essentials was founded in the year 2012 by Shivani Poddar and Tanvi Malik. HSE's brands FabAlley and Indya are presently retail through their official websites and application, horizontal marketplaces, chains like Lifestyle, Shoppers Stop, and 30+ exclusive brand stores over the country.

The company has partnered with Namshi, Amazon US, and Zalora to expand its global reach.

EXECUTIVE OPINION:

Shivani Poddar and Tanvi Malik, Co-Founders, of 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.”

Apoorva Sharma, Partner, Stride Ventures, added, “We are elated to support High Street Essentials as they bring a wave of change in the women's fashion and apparel industry. HSE through its bold, inclusive, and fashion-forward brands and robust marketing strategies have been very successful in creating a unique market identity. We are pleased to be associated with the company and look forward to envisaging their growth journey as they foray into the premium wear segment with Indya Luxe."

Tags : High Street Essentials, StartupsDekho

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Fashion house- High Street Essentials raised around Rs 40 Cr

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