High Street Essentials Bags INR 50 Cr To Expand Into Wedding Wear Space

High Street Essentials, which owns and operates women’s fashion brands Indya and FabAlley, has raised INR 50 Cr ($6 Mn) in a mix of equity and debt infusion, as part of its latest funding round.

The round was led by JSW Foundation chairperson Sangita Jindal, along with participation from family offices of SRF Group, Cyient’s executive vice chairman and MD Krishna Bodanapu and Pure Home + Living’s MD and CEO Timmy Sarna.

The fresh capital will help Indya expand its presence across the Indian and global markets, the company said in a statement.

Founded in 2012, High Street Essentials is a D2C omnichannel womenswear fashion house, which sells affordable western wear and ethnic-fusion wear, under the FabAlley and Indya brands.

High Street Essentials, which counts Elevation Capital, India Quotient, and Dominor Investment Holding among its backers, claims to have raised over $18 Mn in funding to date.

The investment will likely give a boost to the brand’s premium occasion-wear line ‘Weddings By Indya’ and also help it strengthen its footprint in the occasion and wedding wear market.

“We see an immense opportunity to build a strong presence for Wedding By Indya in the $15 Bn wedding wear market, a large part of which is still unorganised,” said Shivani Poddar and Anurag Murali, cofounders of High Street Essentials.

Indya claims to have partnered with several renowned Indian designers such as Rohit Gandhi, Rahul Khanna, Varun Bahl, Ashish N Soni, and Nikhil Thampi among others to cater to India’s booming wedding wear market.

Currently, Indya retails its products through its website, online marketplaces and 12 exclusive brand outlets, located in cities such as New Delhi, Bengaluru, Chennai, Bhubaneshwar, Indore, and Ahmedabad.

High Street Essentials claims to have achieved EBITDA profitability in FY24, growing at over 30% year-over-year. The company aims to turn profit after tax (PAT) positive and is eyeing a 50% YoY growth in FY25.