High Street Essentials Pvt. Ltd. (HSE) has raised Rs 40 crore from Stride Ventures. The fashion house has also announced its women’s fashion brands Indya’s foray into the premium occasion wear category, with a new range, Indya Luxe. Indya Luxe will retail through the Indya website, key international marketplaces, and e-business operating system (EBOs). Additionally, the company aims to utilise the fresh capital for expanding the company’s offline footprint.
The company values the confidence that Stride Ventures has shown in it and are looking forward to building the company with its support, Shivani Poddar and Tanvi Malik, co-founders, HSE, said. “The investment has come at the right time as we start our next leg with key category expansions and scaling our offline and online presence to further solidify our position as a women’s lifestyle and fashion retail company,” they added.
As per the company, HSE plans to double its offline presence by adding 30 more EBOs, a mix of company owned stores and franchisees, and another 100 shop-in-shops in large format stores over the next 12-18 months. This year will also mark the company’s offline expansion to international markets with its first physical store in Malaysia.
For Apoorva Sharma, partner, Stride Ventures, HSE through its brands and marketing strategies has been creating a unique market identity. “We are looking forward to envisaging its growth journey as the company forays into the premium wear segment with Indya Luxe,” she stated.
The last financial year, HSE claims to have made leaps on the product and branding fronts. In September 2021, the company announced the signing of actress Shraddha Kapoor as Indya’s first brand ambassador. It also launched two collaborative capsule collections with designer PayalSinghal and is planning to launch two new designer collections in autumn/winter 22 (AW22).
Started in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials Pvt. Ltd. the parent company to FabAlley and Indya, has expanded its global reach by partnering with international marketplaces such as Namshi, Amazon US, and Zalora.