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FabAlley eyes Rs 100 cr in GMV by '18

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MUMBAI: FabAlley has raised Series A round of funding of USD 2 million from India Quotient, angel investors namely, Tushar Singh, 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.

“Indian fashion e-commerce has a lot of curators and aggregators but very few Indian brands. FabAlley is already a leading brand and we believe that with this investment they would be able to scale up rapidly. The founding team has executed with sharp focus on the right metrics and has shown great promise of building a premium online brand for women,” said India Quotient partner Madhukar Sinha.

On course towards becoming India’s foremost leading fast fashion brand, the company is growing year on year at 100%. This growth trajectory has led FabAlley to a profitable H1 2016-17.

FabAlley co-founder Shivani Poddar said, “For the coming year, we will focus on an effective execution strategy to expand FabAlley’s geographical footprint and capitalize on the large opportunities in the online space ahead of us. We are on track to hit Rs 100 crore in gross merchandise value (GMV) in 2017-18 and will continue to focus on building a profitable and sustainable business in the long term.”

In July 2016, FabAlley ventured into the offline segment through a tie-up with Central chain - a multi-brand store operated by the Future Group. Currently, they have outlets in cities like Gurgaon, Noida, Mumbai, Hyderabad, Patna and Ahmedabad to give their customers a touch-and-feel experience through interactive shop-in-shops, displaying FabAlley's newest and best-selling apparel.

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