High Street Essentials gets fund boost from SAIF Partners

SAIF Partners has invested in High Street Essentials, a Noida-based firm that owns and operates women’s fashion apparel brands Fab Alley and Indya. SAIF is a multistage and sector-agnostic investment firm. The capital infusion will help Fab Alley, founded in 2012 scale up its offline presence rapidly from 15 exclusive outlets and 120 shop-in-shops to 50 and 200 respectively by the end of fiscal 2020. Fab Alley is a western wear apparel line that competes with the likes of other vertical e-commerce firms such as Voonik. Indya is ethnic fusion wear. It competes with offline women-centric brands such as W, Biba and Global Desi.

Both brands will be making ATL and BTL marketing initiatives in the next 12 to 18 months. Both brands are successful and have been built in an extremely capital efficient manner and are well placed to build a very valuable business. Indian women are moving from unbranded to branded apparel, which presents an opportunity to build large women’s fashion brands. Fashion and lifestyle are one of the biggest drivers of e-commerce growth in India with the share of online retailing expected to go up from four per cent to ten per cent in the next three or four years.