High Street Essentials raises ₹50 crore from Sangita Jindal, others
Summary
High Street Essentials, the parent company of womens fashion brands Indya and FabAlley, has raised 50 crore in equity and debt infusion from Sangita Jindal, Chairperson of JSW Foundation with participation from family offices of SRF Group, Krishna Bodanapu of Cyient Technologies and Timmy Sarna from Pure Home + Living. Also read:More ghost malls in the making as consumers shun poorly managed shopping centresThe fund infusion would enables Indya to undertake strategic business expansion of its premium occasion wear range Weddings By Indya, and chart a growth roadmap for a significant play in the occasion, and wedding wear market, a statement said. About half of its sales are from online channels.Indya has strategic collaborations with well-known Indian designers including Rohit Gandhi and Rahul Khanna, Varun Bahl, Ashish N Soni, Nikhil Thampi, and is democratising high-end fashion by bringing them at high street prices. Its occasion-wear is priced in the range between 1500-4000, while the wedding collections start from 5000 and can go up to 30,000.High Street Essentials posted EBITDA profitability in April, 2024, and brand Indya has been growing at more than 30 per cent annually. In FY25, the company has set an aggressive target of achieving 50 per cent, while being profitable at the net level.Murali said that it is also exploring acquisitions and strategic tieups with regional brands in order to scale up.
Funding
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