Sangita Jindal, Chairperson of JSW Foundation, has led an equity and loan round of Rs 50 crore ($6 million) for High Street Essentials (HSE), the parent business of women’s fashion brands Indya and FabAlley.
The SRF Group family offices, Krishna Bodanapu of Cyient Technologies, and Timmy Sarna of Pure Home + Living also participated in the round.
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The money raised will help Indya expand its luxury occasion clothing line, “Weddings By Indya,” in a strategic manner.
Indya intends to open ten new bridal stores as part of its nationwide business expansion. Presently, 150 big format retail locations, such as Lifestyle, Shoppers Stop, Centro, and Ethnicity, plus 12 exclusive brand stores spread throughout 8 cities are used to sell Indya products.
Its retail presence is growing all over the world; in the next 18 months, it intends to open stores in South Africa and the USA in addition to its second location in Malaysia. Its overseas direct-to-consumer e-commerce operation, which operates in more than 43 countries, accounts for the majority of its revenue, however.
About High Street Essentials
Founded in 2012 by Tanvi Malik and Shivani Poddar, The global house of brands that High Street Essentials (HSE) owns and runs includes FabAlley and House of Indya. The goal of making excellent design accessible to millennial women worldwide unites HSE.
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