FabAlley opens its first exclusive brand outlet, to open 5-8 stores in major metros
Vjmedia Works | August 26, 2017
The online fashion store opens its first exclusive store for its ethnic womenswear brand Indya in Bangalore.
Online fast fashion brand, FabAlley made its debut in brick and mortar retail channel with an exclusive brand outlet for its ethnic-wear brand Indya. The store has opened its door at Phoenix Market City, Whitefield, Bengaluru, spread over 350 sq. ft.
Speaking about the rationale behind FabAlley’s omni-channel approach to retail, Tanvi Malik, Co-CEO of FabAlley, said, “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 offerings. 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 will ensure our visibility to consumers while making key purchase decisions.”
FabAlley has chosen its ethnic-inspired range with a touch of western appeal for its offline debut. This range currently contributes to over 20% of FabAlley’s overall revenue, with plans of growing to over 30% by the end of this year. Ethnic-wear currently occupies a whopping 42% 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 through SIS format was in mid-2016 when they partnered with Future Group’s multi brand retail entity Central. Currently, FabAlley has over 50 shop-in-shops across the country.
“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. The planned investment for offline expansion is over 1 million USD, with the estimated offline revenue share going up to 30% 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,” added Shivani Poddar, Co-CEO of FabAlley.”
FabAlley saw a 40% growth in revenue in FY17and with its aggressive Omni-channel expansion plans. The company plans to achieve a 100% YoY revenue growth this year.