Delhi NCR based High Street Essentials, which owns omni-channel women fashion brands FabAlley and Indya, has now secured around INR 8 crore in the debt funding round from the Trifecta Capital.
This is the Trifecta Capital second round of debt infusion into the company. It has also previously invested INR 5 crore in the startup in the month of January 2018.
With the help of this new round, the company has secured a total of #15 million to date, said the announcement.
Launched in the month of June 2012 by the Tanvi Malik, and Shivani Poddar, FabAlley is a women’s western wear label which claims to identify global fashion trends and convert them into affordable apparel, accessories, shoes, jewellery, and bags for Indian women. The company then launched Indya, an ethnic fusion brand, in 2016 to address the contemporary Indian wear jacket.
“In the next 12-18 months, we plan to grow our retail presence by increasing our exclusive brand store count to 50 and doubling our shop-in-shops to more than 650. The capital expenditure required to fund this growth is best done through debt since it reduces the cost of capital and improves return on equity,” Malik and Poddar said in a joint statement.
