Close on the heels of the success ofIndya stores in Delhi, Bangalore and Chennai,High Street Essentials Pvt Ltd (HSE) has launched its first exclusive brand outlet for FabAlley and seventh for Indya at Commercial Street, Bangalore.
Spread across a sprawling 2250 sq ft, this Bangalore store is the company’s largest outlet so far. Since Bangalore is a fashion-forward market and one of the top cities for FabAlley, the company saw it fit to spread their wings and open their second EBO location there.
Speaking on the launch of the new store, Tanvi Malik & Shivani Poddar, co-founders, FabAlley said, “We are excited about the launch of our 7thstore in Bangalore. In the past few years, we have received a great response from this city and look forward to their continuous support in the future as well. Through our offline strategy, we are focused towards expanding our presence across the country, offering customers an engaging touch-and-feel experience. We plan to invest over 6 crores this financial year for our offline expansion. Our estimated offline revenue share is expected to go up to 30 per cent of the company’s total revenue by the end of FY19. We expect to launch another 18 stores by December 2018, taking up our EBO total to 25 stores.”
A whole new experience awaits the customers at the Commercial Street store, where they can familiarize themselves with the brands and their offerings. Spread over three floors, the store will display Indya’s collection on the ground floor and the first floor will haveFabAlley’s collection. To add to the overall customer experience, the brand will also have a lounge area on the second floor where on booking a prior appointment with the stylist, customers can enjoy a customized shopping experience with FabAlley’s trained personal shoppers.
The store will give a chance to young women to get familiar with the brands and get access to western wear as well as fusion wear at the same location. The idea is to give customers an experience before they swipe their cards.
While a major chunk of the company’s revenue comes from its online channels, offline sales from the 6Indya stores and more than 70 shop-in-shops at Future Group’s Central are also picking up. HSE’s first exclusive Indya store was launched in Bangalore in July 2017.
The company recently raised INR 5 crore in venture debt from Trifecta Capital and plans to deploy these funds primarily for offline expansion.
The day also marks the 6th Anniversary for FabAlley in India