Fablestreet has 500 stock-keeping units live on the website across categories.
Delhi-based Fablestreet’s founder and CEO, Ayushi Gudwani felt that existing brands didn’t understand the ethos of women’s formal wear in India. She felt that professional wear for women lacked proper fit, stylish look and longevity. She decided to start a company which would offer products which would deliver this features. After leaving McKinsey in 2015, Gudwani started working on a business model and doing market research.
“From design, identifying the fabric to sourcing, production to sizing, we do everything in-house and only outsource logistics. We don’t lose out on margins by not doing any inventory. We are made-to-order, we control our costs by not building our inventory so we never have dead stock.” Gudwani said.
As part of the R&D effort, Gudwani says the team physically measured more than a 1,000 women to achieve a good fit for the products. Fablestreet has 500 stock-keeping units live on the website across categories. It doesn’t refresh its collection according to season or festivals, but does it in once in a while. As Gudwani says, it designs and launches a new product in two weeks. Fablestreet gets most of its orders from tier 1 cities but some demand also comes from tier 2 cities like Kochi.
The products on Fablestreet are premium and their prices range from Rs 1,700-3,500 which narrows the target audience for the company.
During the initial phase, Fablestreet was bootstrapped and it raised an undisclosed sum in seed funding from Fireside Ventures managing director Kanwaljit Singh. Fashion designer Harmeet Bajaj, senior director of Unilever Pameela P and Fusiontech Ventures and other angel investors also participated in the round. Gudwani says that the company has reached operational profitability and is investing in growth. Part of this growth will include piloting a concept store model called FS Studio, which will act as an offline touch-and-feel experience centre for its customers, an omnichannel approach being taken up by all fashion brands and platforms both online and offline.