In its most recent investment round, High Street Essentials, the company that owns and runs the women’s fashion brands FabAlley and Indya, has raised Rs. 50 crore in a combination of loan and equity infusion.
JSW Foundation chairperson Sangita Jindal led the round, which included participation from SRF Group family offices, Cyient’s executive vice chairman and MD Krishna Bodanapu, and Timmy Sarna, the MD and CEO of Pure Home + Living.
According to a statement from the company, the new funding will enable Indya to increase its market share in both the Indian and international sectors.
High Street Essentials is a direct-to-consumer (D2C) omnichannel womenswear design firm that was founded in 2012. It offers inexpensive western wear and ethnic-fusion apparel under the FabAlley and Indya labels.
The brand’s luxury event-wear line, “Weddings By Indya,” is expected to benefit from the investment, which will also help it expand its market share in the occasion and wedding wear sectors.
“We see an immense opportunity to build a strong presence for Wedding By Indya in the US $ 15 billion wedding wear market, a large part of which is still unorganised,” said Shivani Poddar and Anurag Murali, cofounders of High Street Essentials.
To meet the needs of India’s expanding wedding dress market, Indya claims to have collaborated with a number of well-known Indian designers, including Rohit Gandhi, Rahul Khanna, Varun Bahl, Ashish N Soni, and Nikhil Thampi.
At the moment, Indya sells its goods through 12 unique brand stores that are spread throughout cities including New Delhi, Bengaluru, Chennai, Bhubaneshwar, Indore, and Ahmedabad, as well as through its website and online marketplaces.
EBITDA profitability, according to High Street Essentials, was attained in FY ’24, with year-over-year growth exceeding 30 per cent. In FY ’25, the company hopes to achieve a 50 per cent year-over-year increase and turn a profit after tax (PAT) positive.
