High Street Essentials (HSE), the Delhi-based parent company behind women’s fashion brands, FabAlley and Indya, has raised Rs. 25.50 crore in a round of funding led by its existing investors Elevation Capital, India Quotient, Dominor Holding and family offices.
Started in 2012 by Shivani Poddar and Tanvi Malik, HSE has pioneered fast fashion in the country and is amongst the first Indian fashion retailers to have a robust omnichannel retail model.
The new capital raised will be utilised for expanding the brand’s D2C footprint both domestically and internationally by adding more personalised solutions to proprietary web and app products and expanding brand’s presence with global e-commerce conglomerates.
Technology has been the backbone of the company in the last 8 years and will continue to be strengthened to deliver a stellar customer experience.
Apart from this, the company is planning to make its supply chain even more agile by in-housing key production processes such as printing and embroidering, thus enabling a 30-day mind-to-market production turn-around, comparable to global fashion leaders such as Zara and Boohoo.
Shivani Poddar and Tanvi Malik, Co-founders, HSE said, “We value the continued support of our investors and customers, who have been crucial to our continued success, both in economically robust times and during this pandemic-stricken year. Over the course of the past year, we have worked extremely hard as a team by adopting strict cost-cutting measures, further leveraging our nimble supply chain, improving D2C experience, expanding into low capital-intensive channels and foraying into recession-proof categories in fashion and beauty so that HSE further solidifies its position as a leading women’s lifestyle and fashion retail company in the industry.”