The parent company of women’s fashion brands FabAlley and Indya, High Street Essentials (HSE) has raised Rs 40 crore from Stride Ventures. As per an Inc42 report, the company will use the funds to expand offline presence by launching exclusive brand outlets, franchisees and an additional 100 large format stores in the 12-18 months.
High Street Essentials will also set up its first offline store in Malaysia. The company currently has 30 exclusive brand-owned stores across India. It’sIndya brand will also foray into occasion and festive wear category.
Founded in 2012 by ShivaniPoddar and Tanvi Malik, HSE has two women-focused brands – Indya and FabAlley. Under the brand Indya, it sells women’s ethnic clothes and jewellery, while it sells women’s western apparels and lounge wear under FabAlley brand.
HSE sells products and accessories via its website, online marketplaces, offline retail stores and large format chains including Lifestyle and Shoppers Stop, etc.