Delhi, India-based fashion retail platform High Street Essentials raised USD 5.1 million (INR 40 crore) on May 20, 2022. In a combination of equity and debt, Stride Ventures led the funding for the startup. High Street Essentials owns fashion brands such as FabAlley and Indya.
Purpose of Funding for High Street Essentials
With the recent investment, the company also announced brand Indya’s entry into the premium occasion wear category via Indya Luxe. The Luxe range comprises fashion wear suitable for events and festive wear. The ensemble’s price will range between Rs 6,500 and Rs 18,000. Indya Luxe will be launched over the next four to six months. The new range will be a key product expansion focus area for High Street Essentials. Indya Luxe will distribute via various retail channels such as the Indya website, key international marketplaces, and EBOs.
Meanwhile, the company seeks to expand its offline footprint. It also plans to double its offline presence by adding 30 more EBOs via a mix of company-owned stores and franchises. The fashion house will add another 100 shop-in-shops in large format stores over the next 12-18 months.
High Street Essentials is set to launch its first physical offline store in Malaysia this year. With this store, HSE marks its foray into the offline international market.
What the founder has to say
Shivani Poddar and Tanvi Malik, Co-Founders of HSE, said, “We value the trust and confidence that Stride Ventures has shown in us and are excited about building the company with their support. The investment has come at the right time as we kick start our next leg of success with key category expansions and scaling our offline and online presence to solidify further our position as a leading women’s lifestyle and fashion retail company.”
What the investor has to say
Apoorva Sharma, Partner, Stride Ventures, said, “We are elated to support High Street Essentials as they bring a wave of change in the women’s fashion and apparel industry. Through its bold, inclusive, and fashion-forward brands and robust marketing strategies, HSE has been very successful in creating a unique market identity. We look forward to envisaging their growth journey as they foray into the premium wear segment with Indya Luxe.”
About High Street Essentials
Shivani Poddar and Tanvi Malik co-founded High Street Essentials in 2012. HSE’s brands FabAlley and Indya currently retail through their websites, apps, and horizontal marketplaces. Besides, they distribute via large-format chains such as Lifestyle and Shoppers Stop and over thirty exclusive brand stores across the country.
Meanwhile, the company expanded its global reach by partnering with international marketplaces such as Namshi, Amazon US, and Zalora.
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 on May 20, 2022. In a combination of equity and debt, Stride Ventures led the funding for the startup.){kind=link}