High Street Essentials (HSE), which owns the FabAlley and Indya brands, raised Rs 25.5 crore in a fundraising round headed by Elevation Capital, India Quotient, Dominor Holding, and family offices.
In the deal, the omnichannel women's fashion retailer is valued at over $75 million.
High Street Essentials Private Limited, doing business as FabAlley, provides e-commerce services. The Company offers apparel, shoes, and other accessories for women. FabAlley serves customers in India.
Shivani Poddar and Tanvi Malik founded High Street Essentials Private Limited, an unlisted private company, on January 19, 2012. It is a private limited business with headquarters in Uttar Pradesh. HSE is a fast-fashion shop that operates on an omnichannel model.
Tanvi and Shivani envisioned creating a globally fashionable women's fashion brand in India that was specific to Indian body types and aesthetics. Both of them left their promising corporate professions to pursue their entrepreneurial dreams.
Tanvi graduated from Delhi's Lady Shri Ram College with a bachelor's degree in economics and an MBA in brand management from MICA Ahmedabad. For Indian women, the duo established an inclusive, accessible fashion line. Tanvi is in charge of the company's design, marketing, product, and communication.
Shivani Poddar and Tanvi Malik, both were awarded 'Emerging Entrepreneur of the Year' supported by Tomorrow Makers Savvy Women' at the ETPrime Women Leadership Awards 2020 (#ETPWLA2020).
Last year, the firm experimented with new categories like as fashion masks, loungewear, and formal keyboard-up clothing options during the first Covid-19 wave.
According to the company, it intends to make its supply chain more flexible by in-housing key manufacturing processes such as printing and embroidery, allowing for a 30-day mind-to-market production turn-around, comparable to global fashion leaders such as Zara and Boohoo.
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