High Street Essentials Pvt Ltd (HSE) has recently launched its first exclusive brand outlet in Mumbai for Indya at Phoenix Market City, Kurla.
The store, spread over 730 sq. ft., allows its customers to browse through an exclusive range of luxe fabrics, fits and silhouettes, and houses a contemporary range of skirts, peplum tops, crop tops, tunics and palazzos, finding a perfect blend of western and ethnic styles. Indya has reinvented traditional designs to make them simple, sophisticated and distinctly contemporary, thereby creating a fresh take on Indian fashion that is both indigenous and modern.
HSE 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 9 standalone stores across Delhi, Chennai, Ludhiana and Bangalore and more than 70 shop-in-shops are also picking up.
Indya currently contributes more than 30 percent of the company’s overall revenue, with plans of growing to over 40 percent by the end of this financial year. For this Ethno-Fusion brand, prices vary from Rs 1,500 to Rs 4,000.
Speaking about the launch of the new store, Tanvi Malik and Shivani Poddar, Co-Founders of HSE said, “The fusion wear segment in India is growing at a rapid pace. We are glad we have been able to successfully cater to the demand of the modern Indian woman through Indya. From a small collection to expansion in 9 stores across the country, the brand has come a long way. We plan to take this count to 30 stores by March 2019.”
Talking on the product expansion and sales part, Poddar added, “Indya will soon start with accessories like handbags and earrings etc which complement their clothing collection. The accessories range is already present online and in Benguluru store. Now within six months it will showcase in all our stores. Indya’s offline sales contribute to 30 percent of the overall revenue, thus offline expansion has been a natural progression. This year, we have been focused on working towards our expansion plans in the online and offline segment and our new store in Mumbai is a step closer in this direction.”
This financial year, High Street Essentials Pvt Ltd has planned to invest over Rs 6 crore for their offline expansion and are looking at launching new stores across different cities in the country. The company has also recently raised Rs 5 crore in venture debt from Trifecta Capital and plans to deploy these funds primarily for offline expansion.