HSE plans 50 FabAlley-Indya stores in 18 months and expects gross sales of 220 rupees in fiscal 2016
New Delhi, November 3 () The trendy High Street Essentials (HSE) e-tailer, which runs the FabAlley and Indya brands, is increasing its offline presence and aims to have more than 650 outlets, including its own stores and stores in stores March 2021.
The city-based company, which earns about 55 percent of its revenue from online channels, currently has about 30 Indya and FabAlley stores and 350 stores in stores.
We have seen strong growth in business. Our gross sales were Rs 125.5 crore in fiscal year 19, and Rs 1.3 crore in net profit. Fiscal year 19 marked our transition from a primarily online company to an omnichannel entity while ensuring our infrastructure, supply chain, and product lines expanded efficiently to accommodate online and offline retail growth with efficiency of continued capital, said HSE co-founder Tanvi Malik.
He added that the company is on track to close fiscal year 20 with gross sales of Rs 220 crore with EBITDA and profitability at the PAT level.
In the next 12 to 18 months, our goal is to expand our retail footprint by increasing the number of stores of its exclusive brand to 50 and doubling our stores by more than 600, he said and added that the company plans to invest Rs 6.5-7 crore Towards the expansion.
The stores are owned by the company and are currently operated.
Malik said the online business is also growing at a strong pace with demand also coming from international markets.
We are already sending our products to about 25 markets. While it is a small part of the business in general, it is growing at a strong pace, at approximately 20 percent, he added.
The company is also launching its jewelry brand Zyra. With a price between Rs 600-3,000, the brand will serve millenary women and the products will be sold through its website, shopping center kiosks and points of sale of Indya.
Founded in 2012 by Shivani Poddar and Tanvi Malik, HSE with the FabAlley brand. He launched 'Indya', an ethnic fusion brand, in 2016 in response to the growing demand for contemporary Indian clothing. The company has raised around Rs 76.7 crore to date in financing. In December of last year, he had raised Rs 60 million in the round of the B series of SAIF Partners. SR MKJ