FabAlley's parent company High Street Fashions raises Rs 40 cr from Stride Ventures

Delhi-based fashion house and the parent company of clothing brand FabAlley and Indya, High Street Essentials Pvt Ltd has raised Rs 40 crore from Stride Ventures.

Along with this fundraising, the company has also announced a new collection of premium occasion wear, under the brand Indya Luxe.

Regarding the fundraising, Shivani Poddar and Tanvi Malik, co-founders of the company, 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.”

The fashion company has also stated that the fund raised will also be invested in expanding the company’s offline footprint. The company plans to double its offline presence by adding 30 more exclusive brand outlets (EBOs) over the next 12-18 months.

Adding to its offline presence, the company has also decided to expand its offline presence in the international market by opening its first physical store in Malaysia.

 “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," said Apoorva Sharma, partner, Stride Ventures..

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