The online fashion store opens its first exclusive store for its ethnic womenswear brand Indya in Bangalore.
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.