High Street Essentials Pvt Ltd (HSE), a Delhi-based fashion house and parent company of women’s fashion brands FabAlley and Indya, has raised Rs 400 crore from Stride Ventures.

The fashion house also announced Indya’s foray into the high-occasion clothing category with a new collection, Indya Luxe. The media reported that the new Luxe collection includes sophisticated suits and festive outfits for every occasion, priced between Rs 6,500 and 18,000.

The collection, which includes over 100 garments suitable for Indian occasions such as lehenga suits, sarees and more, will be launched over the next 4 to 6 months and will be a focus area for the company’s future product expansion. Indya Luxe will be retailed through the Indya website, key international markets and Exclusive Brand Outlets (EBO).

With the construction of Indya Luxe, the new capital injection will be used to expand the company’s offline business. HSE plans to double its offline presence over the next 12-18 months by adding 30 EBOs (including company-owned stores and franchisees) and another 100 store-in-shops of larger stores. This year will also mark the company’s offline expansion into international markets, with the opening of its first brick-and-mortar store in Malaysia.

Founded in 2012 by Shivani Poddar and Tanvi Malik, HSE has a strong omnichannel retail model. HSE brands FabAlley and Indya currently retail through their website and app, horizontal markets and major chains such as Lifestyle and Shoppers Stop, as well as more than 30 exclusive branded stores across the country.

Poddar and Malik said: “We value the trust and confidence Stride Ventures has in us and are delighted to build the company with their backing. This investment comes at an opportune time as we expand through key categories and expand our offline and online business to further strengthen our position as a leading women’s lifestyle and fashion retail company and begin our next phase of success.”

Apoorva Sharma, Partner at Stride Ventures, said: “We are delighted to support High Street Essentials as they bring about a wave of change in the women’s fashion and apparel industry. Through their bold, inclusive and fashion-forward brand and strong marketing strategy, HSE is very successful in creating a unique market identity.”

The fashion company is currently seeing revenue split equally between its online D2C and offline channels. The company has also expanded its global reach. “The last fiscal year saw a major leap forward in HSE’s products and brands,” the release said.

In September 2021, the company announced the signing of Bollywood actor Shraddha Kapoor as Indya’s first brand ambassador. It has also launched two collaborative capsule collections with renowned designer Payal Singhal and plans to launch two new designer collections at AW22 (Autumn/Winter 2022). Earlier, the company had raised Rs 20.75 crore in a round led by existing investors SAIF Partners and India Quotient.