New Delhi: Online fashion brand FabAlley is looking to launch its own chain of exclusive outlets in the next 18 months and has raised USD 2 million as part of its offline expansion plans.
FabAlley presently has 25 shops-in-shop at Future Group's supermarket chain Central, and plans to add another 45 through this series A round of funding. "With this round of funding we will be working on three focus areas -- first being offline expansion.
We currently have 25 stores live with Central and another 45 in the pipeline with Central will be live in the next 3-6 months," said FabAlley Co-founder Tanvi Malik. "We also plan to enter other large format chains along with starting our own exclusive brand outlets in the next 18 months," she added.
FabAlley is also considering product expansion and growing its two sub-brands Curve and Indya. "In the near future, we will add other categories such as fitness wear, swimwear and lingerie to our portfolio.
"Finally, we will be ramping up marketing and brand building initiatives, focusing on strategic tie-ups and endorsements to reach out to a larger customer base in India," said Malik.
The company has got funding from India Quotient, angel investors Tushar Singh and Ranjan Sharma, FAO Ventures along with the Indian Angel Network (IAN). This is FabAlley's second round of funding, having raised their seed round from IAN in late 2013.
