Online Fast fashion brand, FabAlley has opened its first brick-and-mortar store with an exclusive brand outlet for its ethnic-wear brand Indya. The first store has opened in Phoenix Market City, Whitefield, Bengaluru. Spread over 350 sq. ft., the store allows customers to get a holistic brand experience of FabAlley offline.
“The idea behind this store is to capitalize on the growing demand for ethnic-fusion wear in the country, while allowing existing and new customers to get a feel of Indya’s luxe fabrics, fits and silhouettes,” said Co-CEO of FabAlley, Tanvi Malik.
“We are channel-agnostic in our approach to distribution as we believe that for a fashion brand it is imperative to be present at every touch-point relevant to our consumer, be it online or offline. Whether the consumer has a tendency of ‘browsing online, buying offline’ or ‘browsing offline, buying online’, we are going to ensure that we are seen by the consumer while making key purchase decisions”, she added, explaining the rationale behind FabAlley’s Omnichannel approach to retail.
FabAlley has chosen its ethnic-inspired range with a touch of western appeal for its offline debut. This range currently contributes to over 20 per cent of FabAlley’s overall revenue, with plans of growing to over 30 per cent by the end of this year. Ethnic-wear currently occupies a whopping 42 per cent market share of the apparel retail market in the country and provides a great growth opportunity for FabAlley.
FabAlley’s first foray into offline retail was in mid-2016 when they partnered with Future Group’s Central Mall and currently FabAlley has over 50 shop-in-shops across the country. This move will further bolster offline visibility and create a touch-and-feel experience for the brand.
“Our offline strategy involves expanding Central’s doors to about 100, exploring partnerships with other large fashion departmental chains and starting 5-8 own stores in key metros by the end of next year”, said Co-CEO of FabAlley, Shivani Poddar.
She further added, “The planned investment for offline expansion is over US $1 million, with the estimated offline revenue share going up to 30 per cent of the company’s total revenue by the end of FY19. Indiscriminate expansion is not on the cards as our offline strategy is focused on being profitable at every door we operate.”
FabAlley saw a 40 per cent growth in revenue in FY17 and with its aggressive Omnichannel expansion plans, it’s on-track to achieve a 100 per cent YoY revenue growth this year.