Speaking on the launch of the new store, Tanvi Malik & Shivani Poddar, co-founders, FabAlley said, “We are glad to announce the launch of our fourth store in Delhi. In the past few years, we have received a great response from this city and look forward to the support of our customers in the future as well. We are focused on expanding our reach across the country through our online and offline strategy. We plan to invest over 6 crores this financial year for our offline expansion and our looking at launching new stores across different cities. 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”
Indya first forayed in the offline retail space with a partnership of Future Group’s Central Mall. While a major chunk of the company’s revenue comes from its online channels, the offline sales from the 8 standalone stores across Delhi, Chennai, Ludhiana and Bangalore and more than 70 shop-in-shops, are also picking up.
The company has also recently raised INR 5 Crore in venture debt from Trifecta Capital and plans to deploy these funds primarily for offline expansion.