FableStreet Lifestyle, a homegrown brand,has raised Rs. 50 crore in pre-series B funding round led by Fireside Ventures.
The company said its annual revenue for FY ’22 was close to Rs. 30 crore. Currently, its annual run rate is at Rs. 70 crore and is looking to touch Rs. 100 crore run rate within a couple of months.
FS Life recently transitioned from single brand FableStreet to a house of brands with the launch of modern Indianwear brand Marigold and a sterling silver jewellery brand Mikoto.
With the funding received,the company plans to scale all the brands and acquire new brands in strategically identified white space like improving supply chain and enter offline retail space.
Ayushi Gudwani,Co-founder of the company, said “We have built a capital-efficient and profitable business. The operations fund itself and equity capital is only leveraged to build infrastructure and team to scale.”
