Delhi-based fashion house High Street Essentials Pvt. Ltd. (HSE), the parent company of women’s fashion brands FabAlley and Indya, has raised about $5.1 million (Rs40 crore) in funding from venture debt firm Stride Ventures, per an announcement on Friday.
The fresh capital raised will be utilised by the company to expand its offline presence by adding 30 more EBOs — a mix of company-owned stores and franchisees — and another 100 shop-in-shops in large format stores over the next 12-18 months, it said in a statement.
