High Street Essentials, which owns and operates the women’s fashion brands Indya and FabAlley, has raised INR 50 crore ($6 million) in its most recent funding round through a combination of equity and debt infusion.
Sangita Jindal, chairperson of JSW Foundation, led the round, which also included participation from SRF Group’s family offices, Cyient’s executive vice chairman and MD Krishna Bodanapu, and Pure Home + Living’s MD and CEO Timothy Sarna.
Indya said in a statement that the new capital will help it expand its presence in the Indian and global markets.
High Street Essentials, founded in 2012, is a direct-to-consumer omnichannel womenswear fashion house that sells affordable western and ethnic-fusion wear under the FabAlley and Indya brands.
High Street Essentials, which has Elevation Capital, India Quotient, and Dominor Investment Holding as backers, claims to have raised more than $18 million in funding to date.
The investment will most likely benefit the brand’s premium occasion-wear line ‘Weddings By Indya’ while also helping it strengthen its position in the occasion and wedding wear markets.
We see an enormous opportunity to build a strong presence for Wedding By Indya in the $15 billion wedding wear market, a large portion of which is still unorganised,” said Shivani Poddar and Anurag Murali, High Street Essentials cofounders.
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