High Street Essentials raises Rs 60 crore from SAIF Partners
High Street Essentials raises Rs 60 crore from SAIF Partners

Delhi NCR-based High Street Essentials, an Indian online fashion brand for women that runs FabAlley and Indya, has secured Rs 60 crore in a fresh funding round from SAIF Partners. The fresh capital will be used towards focusing on product expansion, and also brand-building initiatives.

Shivani Poddar, Co-Founder of FabAlley, 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 FY20. We will invest in Athleisure and our plus size brand, Curve. We will also look at amplifying our brands."

Tanvi Malik, Co-founder, High Street Essentials, stated, "Our goal is to capture both online and offline growth opportunities by leveraging our channel-agnostic approach through phygital store experiences, virtual fitting rooms, seamlessly merged forward and reverse logistics – all aimed at benefitting from the strategic advantages of both channels, while minimising their inherent disadvantages."

Mukul Arora, the Managing Director of SAIF Partners, added, "When we met Shivani and Tanvi, we were really impressed by their deep customer understanding and solid execution muscle. They have built two successful brands in an extremely capital efficient manner, and are well placed to build a very valuable business. We are very excited to partner with them on this journey."

 
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