High Street Essentials (HSE), which runs FabAlley and Indya brands, is eyeing to have more than 650 retail points including its own stores and shop-in-shops by March 2021.
Currently, the fashion e-tailer has about 30 Indya and FabAlley stores and 350 shop-in-shops. The company gets about 55% of its revenues from online channels.
Tanvi Malik, Co-Founder of HSE, said, “We have seen strong growth in business. Our gross sales were Rs 125.5 crore in FY19, and Rs 1.3 crore in net profit. FY19 has marked our transition from a primarily online company to an omnichannel entity while ensuring our infrastructure, supply chain, and product lines expanded efficiently to accommodate both online and offline retail growth with continued capital efficiency.”
“In the next 12-18 months, our aim is to expand our retail footprint by increasing its exclusive brand stores' count to 50, and doubling our shop-in-shops to more than 600,” she added.
HSE is planning to invest Rs 6.5-7 crore towards expansion. Presently, its stores are company-owned and operated.
Malik stated, “The online business is also growing at a strong pace with demand also coming in from international markets. We are already shipping our products to about 25 markets. While it is a small portion of the overall business, it is growing at a strong pace, at about 20 per cent.”