Fashion e-tailer FabAlley turns profitable, aims to grow 75% this year

• Fashion house High Street Essentials which runs FabAlley and Indya, has turned profitable.
• The company has reported a net revenue of ₹90.2 crores for FY19, along with a profit of ₹1.3 crores.
• The company now aims to have 50 exclusive retail outlets.

High Street Essentials which runs FabAlley and Indya, has turned profitable today The company has reported a net revenue of ₹90 crores for FY19, along with a profit of ₹1.3 crore.

“FY19 has marked our transition from a primarily online company to an omnichannel entity while ensuring our infrastructure, supply chain, and product lines expanded efficiently to accommodate both online and offline retail growth with continued capital efficiency,” said founders Shivani Poddar and Tanvi Malik.

FabAlley was launched in 2012 and since then has grown from an online platform to have offline retail stores. The company now aims to have 50 exclusive retail outlets.

“The company is on track to close FY20 with gross sales of ₹220 crore, at a growth of 75% over FY19, with EBITDA and PAT-level profitability,” said Poddar and Malik.

The company last raised funds in December 2018. The series B round of funding for ₹60 crore was led by SAIF Partners with the VC firm’s Mukul Arora joining the board of the e-commerce company.