India-based online high-fashion brand FabAlley has inaugurated its third outlet last week in New Delhi. FabAlley already has one store each in the capital and in Bengaluru.
Indya’s luxe fabrics, fits and silhouettes, and a contemporary range of luxe skirts, peplum tops, crop tops, tunics, and palazzos are available for sale at FabAlley’s latest store, spread over an area of more than 700 sq. ft.
The fashion retailer has plans to take its store count to 12 to 15 in next six months to increase the offline presence of its Indya brand. In 2016, FabAlley inked a partnership with Future Group’s Central Mall to kick off its offline sales.
FabAlley also aims to tap on the growth opportunities in Indian wear that captures a major share of the apparel market in the country, Tanvi Malik, Co-CEO of FabAlley was quoted as saying at the store inauguration ceremony. The ethnic wear industry in India is likely to grow at a CAGR (Compound Annual Growth Rate) of 9 per cent to reach Rs. 1,25,000 crores by 2019 from an estimated Rs. 70,000 crores at present.
The fashion firm posted a growth of 40 per cent in 2017 and it is now planning to reach 100 per cent Y-o-Y (year on year) revenue growth in 2018 with its offline expansion.
