High Street Essentials (HSE), the parent company of popular women’s fashion brands Indya and FabAlley, has successfully raised Rs 50 crore ($6 million) in a combination of equity and debt financing. Sangita Jindal, Chairperson of JSW Foundation, spearheaded this funding round, with notable participation from the family offices of the SRF Group, Krishna Bodanapu of Cyient Technologies, and Timmy Sarna from Pure Home + Living.
Prior to this latest infusion of capital, HSE had garnered Rs 40 crore in May 2022 from Stride Ventures. According to the company’s official statement, the fresh proceeds are earmarked for strategic business expansion, particularly to bolster Indya’s premium occasion wear line, “Weddings By Indya.”
Founded in 2012 by Shivani Poddar and Tanvi Malik, HSE has carved a niche in the women’s fashion sector with its two brands. Indya focuses on ethnic clothing and accessories, while FabAlley offers a range of Western apparel and loungewear for women.
As part of its expansion strategy, Indya aims to open 10 new wedding stores within the current financial year, augmenting its existing presence. Currently, Indya operates 12 exclusive brand outlets across 8 cities and is available in 150 large format retail outlets, including major chains like Lifestyle, Shoppers Stop, Centro, and Ethnicity.
Internationally, Indya is strengthening its footprint with the opening of a second store in Malaysia and plans to establish outlets in the USA and South Africa within the next 18 months. Notably, the brand’s international direct-to-consumer e-commerce business, which serves over 43 countries, remains its most significant revenue generator.
This new funding round is poised to propel HSE’s ambitious growth plans, solidifying Indya’s presence in both domestic and international markets while continuing to cater to women’s evolving fashion needs.
