FABALLEY'S PARENT COMPANY RAISES ₹25.50 CR IN FUNDING

Delhi-based fashion house, High Street Essentials (HSE), the parent company behind women’s fashion brands, FabAlley and Indya, has raised ₹25.50 Cr in a round of funding led by its existing investors Elevation Capital, India Quotient, Dominor Holding, and family offices.

The latest infusion of capital comes after the company raised ₹20.75 Cr in June 2020 in the midst of the first wave of the COVID-19 pandemic.

Started in 2012, by Shivani Poddar and Tanvi Malik, HSE has pioneered fast fashion in the country and is among the first Indian fashion retailers to have a robust omnichannel retail model. During the first wave of 2020, the company also ventured into new categories that were pertinent to the pandemic situation such as fashion masks, loungewear, and formal keyboard-up dressing options. Earlier this year, the fashion house forayed into the personal care segment with the launch of an in-house brand, Indya Skin Care. This year also saw the company launch a new Indian daywear brand called Earthen by Indya and a collaborative capsule collection with acclaimed designer Payal Singhal.