High Street Essentials secures ₹50 crore in funding from Sangita Jindal and other high-profile investors

Funding Alert

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. Sangita Jindal, chairperson of JSW Foundation, along with family offices SRF Group, Krishna Bodanapu of Cyient Technologies and Timmy Sarna of Pure Home + Living participated prominently in the funding round.

This fresh infusion of capital will enable Indya to embark on a strategic business expansion, particularly focusing on its premium casual wear line ‘Weddings By Indya’. The company aims to consolidate its presence in the lucrative wedding wear market, which is 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 curated ensembles that appeal to a wide audience looking for high-end fashion at affordable prices. Indya has collaborated with leading Indian designers such as Rohit Gandhi + Rahul Khanna, Varun Bahl, Ashish N Soni and Nikhil Thampi which further enhances its appeal.

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

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High Street Essentials achieved EBITDA profitability in April 2024 and the Indya brand is growing at over 30% annually. The company has set an ambitious target for FY25 to achieve 50% growth while maintaining net profitability.

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