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Fashion Brand FabAlley Raises Rs 60 cr from Saif Partners

FabAlley raises Rs 60 Cr

Delhi NCR-based High Street Essential (HSE) Pvt Ltd which owns Indya and FabAlley, the omnichannel women’s fashion brands, has now secured Rs 60 crore in a funding round of Series B from SAIF Partners, the company revealed in a report.

The round includes a partial secondary share sale by Indian Angel Network, High Street Essentials’ earliest investor. The company statement also added that post-investment, Mukul Arora, the Managing Director of SAIF Partners, is going to join as the company board.

The company is planning to use the fresh funds for increasing distribution, brand building initiatives, and product expansion. Strengthening the technology infrastructure is another area to be given priority by the company.

Launched by Shivani Poddar and Tanvi Malik in the year 2012, the first brand of the company, FabAlley is a women’s only western wear label. The brand offers design-differentiated and fashionable clothing, as well as accessories for the woman on-the-go.

The brand is also known for converting global fashion trends into affordable apparel, accessories, jewelry, bags, and shoes for the Indian women.

GabAlley products are sold by HSE through its website and these are also available on other online marketplaces. They sell their products offline through large retailers like Globus and Central. The other brand Indya was launched in the year 2016.

Talking about the investment, Shivani Poddar said, “The capital infusion will help us scale our offline presence rapidly from 15 exclusive outlets and 120 shop-in-shops to 50 and 300, respectively, by the end of 2019-20. We will invest in new categories such as Athleisure and our plus size brand, Curve. We will also look at amplifying our brands’ voices through ATL and BTL marketing initiatives.”

Picture Credits: Entrackr

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