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High Street Essentials raises Rs 8 cr venture debt from Trifecta Capital

By Retail4Growth Team | January 10, 2020

This is the second round of debt infusion by Trifecta into the company.

Tanvi Malik & Shivani Poddar,  Co-founders, FabAlley and Indya

High Street Essentials (HSE), the parent company behind women-centric fashion brands, FabAlley and Indya, on Thursday said it has raised Rs 8 crore in venture debt from Trifecta Capital.

According to the company statement, in FY20, HSE scaled up its retail footprint with 10 new Indya store and five FabAlley stores, along with expanding both brands to over 350 SIS across the country.

This is the second round of debt infusion by Trifecta into HSE, a statement. The company had raised its first venture debt round of Rs 5 crore from Trifecta Capital in January 2018.

The company had raised Rs 60 crore in Series B funding from SAIF Partners in December 2018.  

"As we scale both our offline and online presence while incubating new offerings and brands in complementary spaces, it is imperative that we upgrade our infrastructure and working capital simultaneously," HSE Co-founder Tanvi Malik said in a statement.

She further added that in the next 12-18 months, HSE plans to grow its retail presence by increasing its exclusive brand stores' count to 50 and doubling shop-in-shops to more than 650.

"The capital expenditure required to fund this growth is best done through debt since it reduces the cost of capital and improves return on equity," HSE co-founder Shivani Poddar said.

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