High Street Essentials secures Rs 50 crore to expand wedding wear range
Parent company of brands like Indya and FabAlley, High Street Essentials has secured Rs 50 crore ($6 million) in its latest funding round through a mix of equity and debt. Led by Sangita Jindal, Chairperson, JSW Foundation, the funding round was attended by SRF Group’s family offices, Cyient’s executive vice chairman and MD Krishna Bodanapu, and Pure Home + Living’s MD and CEO Timothy Sarna.
The newly acquired funds will be used to expand the brand’s luxury occasion-wear range, ‘Weddings By Indya,’ and strengthen its presence in the occasion and wedding wear market.
Established in 2012, High Street Essentials operates as a direct-to-consumer omnichannel fashion company, offering affordable western and ethnic-fusion apparel under its FabAlley and Indya brands.
According to Indya, the fresh capital injection would aid in expanding its footprint in both the Indian and global markets. The company, which counts Elevation Capital, India Quotient, and Dominor Investment Holding among its backers, has raised over $18 million to date.
The investment is expected to significantly enhance ‘Weddings By Indya,’ positioning it strongly within the $15 billion wedding wear market, much of which remains unorganised. Shivani Poddar and Anurag Murali, Co-founders, emphasised the substantial opportunity to establish a dominant presence in this sector.
Indya has partnered with notable Indian designers such as Rohit Gandhi, Rahul Khanna, Varun Bahl, Ashish N Soni, and Nikhil Thampi to cater to the booming wedding dress market in India. The brand's products are available through 12 exclusive brand stores in cities like New Delhi, Bengaluru, Chennai, Bhubaneswar, Indore, and Ahmedabad, as well as through its website and various online marketplaces.
