Indya, FabAlley parent raises Rs 50 Cr funding to fuel expansion plans
Indya currently has 12 brand outlets in eight cities and 150 large-format retail stores. It now plans to expand its presence by adding 10 wedding stores this financial year.
High Street Essentials (HSE), the parent company of women’s fashion brands and , has raised Rs 50 crore in equity and debt infusion.
The funding round was led by Sangita Jindal, Chairperson of JSW Foundation with participation from family offices of SRF Group, Krishna Bodanapu of Cyient Technologies and Timmy Sarna from Pure Home + Living.
According to Indya, this fund infusion will help it undertake strategic business expansion of its premium occasion wear range “Weddings By Indya.”
High Street Essentials posted EBITDA profitability in April 2024 with its Indya brand growing at more than 30% YoY. The company has set an aggressive target of achieving 50% YoY growth for EBITDA in FY25 while being PAT positive.
"We see an immense opportunity to build a strong presence for Wedding By Indya in the US$15 Billion wedding wear market, a large part of which is still unorganised,” said Shivani Poddar and Anurag Murali, Co-founders, HSE.
It will add its second international store in Malaysia and open outlets in the USA and South Africa within the next 18 months. It also plans to expand its home network by more than 100 stores in the next few years while investing in on-ground brand and marketing initiatives.
Indya currently has 12 brand outlets in eight cities and 150 large-format retail stores. It now plans to expand its presence by adding 10 wedding stores this financial year.
Edited by Affirunisa Kankudti