High Street Essentials raises Rs 40 crore in funding from Stride Ventures
The company will utilise the funds to expand the company’s offline footprint and expansion of its premium category with the launch of new collections.
The fashion house Indya brand recently entered the premium occasion wear category with a new range Indya Luxe and the company aims to use the funding to make inroads in the premium wear segment.
Commenting on the funding, Shivani Poddar and Tanvi Malik, co-founders of HSE in a statement said, “The company values the confidence that Stride Ventures has shown in it and are looking forward to building the company with its support. The investment has come at the right time as we start our next leg with key category expansions and scaling our offline and online presence to further solidify our position as a women’s lifestyle and fashion retail company.”
Apoorva Sharma, partner at Stride Ventures added, “HSE through its brands and marketing strategies has been creating a unique market identity. We are looking forward to envisaging its growth journey as the company forays into the premium wear segment with Indya Luxe.”
Started in 2012 by Shivani Poddar and Tanvi Malik, High Street Essentials Pvt plans to double its offline presence by adding 30 more exclusive brand outlets and 100 shop-in-shops in large format stores over the next 12-18 months.
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