Indya and FabAlley's Parent High Street Essentials Bags INR 50 Cr from Sangita Jindal The Delhi-based fashion brand will deploy the fresh funds to undertake strategic business expansion of its premium occasion wear range "Weddings By Indya".
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High Street Essentials (HSE), the parent company of women's fashion brands Indya and FabAlley, has raised INR 50 crore in equity and debt led by Sangita Jindal, Chairperson of JSW Foundation.
The SRF Group family offices, Krishna Bodanapu of Cyient Technologies, and Timmy Sarna of Pure Home + Living also participated in the round.
Prior to this round, in May 2022, HSE had secured INR 40 crore from Stride Ventures.
The fresh fund infusion enables Indya to undertake strategic business expansion of its premium occasion wear range "Weddings By Indya".
Shivani Poddar and Anurag Murali, Co-founders of HSE, said, "We see an immense opportunity to build a strong presence for Wedding By Indya in the USD 15 billion wedding wear market, a large part of which is still unorganised. Backed by the unwavering support of our investors like Sangita Jindal, we are poised to aggressively expand and build the biggest and most loved brand in the wedding wear industry."
Established in 2012 by Shivani Poddar, Tanvi Malik, and Anurag Murali, High Street Essentials has two women-focused brands: Indya and FabAlley. Indya focuses on providing ladies with ethnic fashion and accessories, whereas FabAlley serves women's loungewear and Western apparel needs.
Sangita Jindal, Chairperson of JSW Foundation, said, "Indya's core strength lies in their unique designs that cater to the Indian as well as global diaspora. Shivani and Anurag have built strong back-end capabilities, and this investment will empower them to fuel Indya's global expansion while allowing them to take a larger share of the vast Indian wedding wear market."
Indya has plans to expand its business presence across the country with 10 new wedding stores this financial year. Indya is currently retailed through 12 exclusive brand outlets in 8 cities and 150 large format retail outlets, including Lifestyle, Shoppers Stop, Centro, and Ethnicity.
Its global retail footprint continues to expand with a second store in Malaysia, with plans to also open outlets in the USA and South Africa within the next 18 months. However, Indya's largest volumes come from its international direct-to-consumer e-commerce business, which spans more than 43 countries.
Over the next few years, Indya plans to open over 100 wedding stores across the country.
