FS Life, formerly known as FableStreet, has raised INR 50 crore in a pre-Series B funding round led by Fireside Ventures.
Startup founders including Ghazal Alagh (Co-founder, MamaEarth), Mehul Agarwal and Vikram Chopra (Co-founders, CARS24), Ruchi Kalra (Co-founder, OfBusiness), Malika Sadani (Founder, The Moms Co.), and many more founders also participated in the round.
The investment will go toward expanding the company’s current brands as well as creating or acquiring new ones.
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“We have built a capital efficient and profitable business. The operations fund itself and equity capital is only leveraged to build infrastructure and the team to scale. We plan on using this money to scale our supply chain technology; build a best-in-class team and enter offline retail. We have also used this opportunity to bring some amazing Founder-angel investors whose guidance in building large scale brands and internet businesses will be of great value to us,” said Ayushi Gudwani, founder, FS Life.
With the launching of Marigold and Mikoto, FS Life recently made the move from a single brand to a multi-brand company.
“We have seen FS Life scale 10 times despite Covid with unparalleled capital efficiency. We have re-invested in them with the belief that they are set to change the landscape of the fashion industry in India with their insights driven design innovation, efficient supply chain and best in class sizing for Indian women,” said Dipanjan Basu, partner at Fireside Ventures.
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According to a statement from the firm, FS Life has grown ten times over the last two years by updating its product lineup to meet changing consumer preferences. The brand expects to reach a run rate of over 1000 crores in revenue in the following three to four years.
About FS Life
FS Life represents a group of brands that are thoughtful, relevant and solve for unmet apparel and lifestyle needs for the modern Indian woman. FS Life started in September 2016 with its first brand FableStreet, which is a premium western wear brand focussed on providing the best fits for Indian women.
It now has evolved into a multi-brand organisation with Mikoto — a sterling silver and semi precious jewellery brand, which caters to women’s need for high quality jewellery at affordable prices, and Marigold — a modern Indian wear brand reimagining traditional clothing for the woman of today.