BusinessE-Commerce

FabAlley and Indya manage to grab 60 crore funding from SAIF Partners

Women all over the world have a hobby which is common. They can come from any part of the world, shopping is something every woman loves. However, for some, this calls for an opportunity to earn money and in today’s day and age, there are a lot of platforms to grab this opportunity on. Flipkart is one of the examples, they have six fashion labels to their name and each one of them is a bit different from the other. They recently launched a western clothing line for Women in the name of Ann Spring’s. It is aimed at the tier 2 citizens.

The fashion market is one of the few markets which maintains its online and offline ratio. No matter how much discounts you offer online, there are some people who like to go to stores and buy their clothes. This is something which has urged many fashion designers to use the marketing strategy called as phygital. The word is a literal amalgamation of physical and digital. There are companies, especially of women fashion brands which use both the platforms, that is, they offer their clothing range in both formats, online and offline.

FabAlley is one of those companies. A High Street Essential Pvt Ltd owned fashion label, headed by two strong women, is a brand which is on the rise. It operates from Delhi/NCR region and it focuses on women clothing mainly and is an out and out online to the offline brand. FabAlley was founded in 2012 by Shivani Poddar and Tanvi Malik. Four years later they launched their second brand in the name of Indya. The brands currently have 15 exclusive outlets and around 120 shop-in-shops.

The company has also claimed a profit for the FY18. Gross Merchandise Value of the company is also at $11.85 million and the company is on route to complete the FY19 at $21.34 million. The Indian online fashion market is to be valued at $12 billion to $14 billion by the end of 2020 and grow at the rate of 63%. Indian e-commerce industry is also going to grow to a staggering $200 billion by 2026. Looking at all these numbers, FabAlley has managed to receive a massive investment for SAIF partners.

FabAlley and Indya both brands have managed to bag a series B funding from SAIF Partners. The funding is about $8.54 million that is around INR 60 crore. The company plans to increase in all sectors at is it going to increase its stores from 15 to 50 exclusive shops and from 120 shop-in-shops to 500. Apart from this, the logistics of the company is something they are going to improve. Along with logistics, the other thing which will be introduced is a virtual dressing room, which will allow users to see how a dress looks virtually.

– Unmesh Phule

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