High Street Essentials raises Rs 50 crore in funding round led by Sangita Jindal

High Street Essentials (HSE), the parent company of women’s fashion brands Indya and Faballey has raised Rs 50 crore ($6.1 million) in a funding round led by Sangita Jindal, chairperson of JSW Foundation.

SRF Group, Krishna Bodanapu of Cyient Technologies and Timmy Sarna from Pure Home Living also participated in the funding round.

The funding will be used to fuel Indya’s strategic business expansion of its premium wear range that includes addition of 10 new wedding stores in this financial year.

Commenting on the investment, Sangita Jindal in a statement said, “Indya’s core strength lies in their unique designs that cater to the Indian as well as global diaspora. Shivani & Anurag have built strong back-end capabilities, and this investment will empower them to fuel Indya’s global expansion while allowing them to take a larger share of the vast Indian wedding wear market.”

Shivani Poddar, co-founders of HSE added, “We see an immense opportunity to build a strong presence for Wedding by Indya in the US$15 Billion wedding wear market, a large part of which is still unorganized. Backed by the unwavering support of our investors like Sangita Jindal, we are poised to aggressively expand, and build the biggest and most loved brand in the wedding wear industry.”

Indya currently retails through its e-commerce store, 12 exclusive brand outlets in 8 cities, and 150 large format retail outlets.