Fable Street Lifestyle raises funds
26 September 2022, Mumbai:
Fable Street Lifestyle has raised a Pre-Series B round of Rs 50 crores.
Having built a capital-efficient business the plan is to use this money to scale the supply chain technology, build a team and enter offline retail as well. This is the company’s third raise since its inception in 2016. In 2019, it had raised Rs20crores in a Pre-Series A round. Prior to that, it had raised aroundRs3 crores from friends and family.
This is a direct-to-consumer company that runs western wear brands FS Life, FableStreet, Marigold, and Mikoto. The company has now expanded its focus to curating lifestyle brands as well. It houses brands such as Marigold, a modern Indian wear brand, and Mikoto, a sterling silver jewelry brand.
This funding will be used to scale all its brands and start or acquire new brands in strategically identified white spaces. Founded in 2016, the company began as a premium workwear brand. Delhi, Mumbai, and Bangalore contribute about 55 percent to the company’s sales and the rest comes from TierII cities. Now Fable Street Lifestyle will look to acquire an ethnic brand and one that is in the athleisure space.
