In Short:
Parent company of women’s fashion brands Indya and FabAlley, High Street Essentials, raised ₹50 crore from Sangita Jindal and others. The fund infusion will help Indya expand its premium occasion wear range “Weddings By Indya” and grow in the wedding wear market. Indya collaborates with well-known Indian designers and plans to expand its retail presence nationally and globally. High Street Essentials is targeting aggressive growth and profitability in the coming years.
Indya and FabAlley’s Parent Company Raises ₹50 Crore from Prominent Investors
Exciting news for fashionistas! High Street Essentials, the parent company of popular women’s fashion brands Indya and FabAlley, has secured ₹50 crore in equity and debt funding from some big names in the industry.
Investors Who Believe in the Vision
The fund infusion was led by Sangita Jindal, the Chairperson of JSW Foundation, with participation from the family offices of SRF Group, Krishna Bodanapu of Cyient Technologies, and Timmy Sarna from Pure Home + Living.
This strategic investment will fuel Indya’s expansion plans, especially for their premium occasion wear range called “Weddings By Indya”. With this financial boost, Indya aims to make a mark in the lucrative occasion and wedding wear market.
Making Luxury Fashion Accessible
Indya’s “Weddings By Indya” collection caters to India’s booming $15 billion wedding industry, offering meticulously crafted ensembles for various ceremonies. The brand has also collaborated with renowned Indian designers to bring high-end fashion to high street prices, making luxury accessible to all.
Future Growth and Expansion
Indya has ambitious plans to expand its retail presence with the opening of 10 new wedding stores in the current financial year. Currently, the brand is available through 12 exclusive brand outlets in eight cities, as well as 150 large format retail stores. Additionally, Indya is making its mark globally with stores in Malaysia and plans for expansion in the USA and South Africa.
Financial Success and Growth Targets
High Street Essentials achieved EBITDA profitability in April 2024, and brand Indya has been experiencing a growth rate of over 30% annually. The company has set a target of achieving 50% growth in FY25 while maintaining profitability at the net level.
