How FabAlley’s expansion plans and strategies are making a mark in the apparel sector
In a recent conversation with YourStory’s Daily Dispatch, Shivani Poddar, CEO and Founder, FabAlley and Indya shares key insights on the brand’s journey through the pandemic and discusses plans of expansion.
Since its inception in 2012, apparel brand FabAlley has been offering customers affordable and chic clothing options. It is an online-first fashion store that has a unique collection of women’s clothing.
Shivani Poddar, Co-founder ofand , says that in wake of the pandemic, the apparel sector saw a huge gap for about 18 months as people refrained from shopping. With the situation improving and the festive season already underway, revenge shopping has taken centre stage, giving a huge boost to the ecommerce sector.
“The sentiment is very positive and we have seen a huge upswing,” Shivani tells YourStory’s Daily Dispatch.
The brand has witnessed huge growth with ecommerce leading the charge. This is largely due to shift from offline to online amid COVID-19, with the ecommerce front expected to see 100-120 percent year-on-year growth.
“Things are looking good and we are hoping for this to be the best quarter in the history of the company,” says Shivani.
Shivani shares that due to the festive season changing amid the COVID-19 restrictions, people have started moving towards the category of light occasion wear and FabAlley’s ethnic brand, Indya, has been leading the market in that aspect. The brand has also collaborated with Payal Singhal, a leading Indian designer, to launch affordable collections. In addition, the brand also launched a partnership with actress Shraddha Kapoor, and also successfully launched a mini-collection.
She adds that the brand has been trying to expand its footprint both on the online and offline fronts. Indya and FabAlley have been receiving traction from national as well as international marketplaces. “Even with our retail stores, we are looking at expanding with some key partners and getting more multi-brand outlets,” says Shivani. Apart from that, the brand is also working on improving services across the board.
Shivani mentions that the brand is currently at 480 points of sale, and plans to take that number up to 600+ by March 2022. By December 2022, the brand intends to be at 800-900 points of sale. “The idea for a three-year journey is to build a fairly large omni-play across the board,” she says. The brand has aggressive expansion plans on the offline front while online continues to grow on a large scale.
Lastly, she concludes by saying that the brand has raised almost Rs 50 crore in the last 14-16 months, most of which has come from internal investors. “We will be looking at a larger Series C round at some point in 2022,” says Shivani. They are targeting to close this year at a GMV of about Rs 300 crore, and grow at 70-90 percent next year.
Edited by Kanishk Singh