High Street Essentials Secures ₹50 Crore Funding from Sangita Jindal and Other Prominent Investors

High Street Essentials, the parent company of renowned women’s fashion brands Indya and FabAlley, has successfully raised ₹50 crore through a combination of equity and debt infusion. The funding round saw significant participation from Sangita Jindal, Chairperson of JSW Foundation, along with the family offices of SRF Group, Krishna Bodanapu of Cyient Technologies, and Timmy Sarna from Pure Home + Living.

This fresh infusion of capital will empower Indya to embark on a strategic business expansion, particularly focusing on its premium occasion wear range, “Weddings By Indya”. The company aims to solidify its presence in the lucrative wedding wear market, estimated to be worth $15 billion in India.

“Weddings By Indya” is a specially curated collection designed to cater to various ceremonies within the wedding segment. The collection boasts crafted ensembles that appeal to a broad audience looking for high-end fashion at accessible prices. Indya has collaborated with prominent Indian designers such as Rohit Gandhi + Rahul Khanna, Varun Bahl, Ashish N Soni, and Nikhil Thampi, further enhancing its appeal.

Indya has ambitious plans to expand its physical presence across India by opening 10 new wedding stores within the current financial year. Currently, the brand operates 12 exclusive brand outlets in eight cities and is available in 150 large format retail outlets, including Lifestyle, Shoppers Stop, Centro, and Ethnicity. On the international front, Indya is broadening its footprint with a second store in Malaysia and plans to launch outlets in the USA and South Africa within the next 18 months. Despite this physical expansion, the majority of Indya’s sales volume is driven by its international direct-to-consumer e-commerce platform.

High Street Essentials achieved EBITDA profitability in April 2024, and the Indya brand has been growing at an annual rate of over 30%. The company has set an ambitious target for FY25, aiming for a growth rate of 50% while maintaining net profitability.