Private Label FabAlley clocks in 600 orders a day; Adds 300 new SKUs every month
Bangalore, 29th May 2014: Founded in 2012, FabAlley is the brainchild of new age entrepreneurs – Ms Tanvi Malik (Co-Founder and Design Head) and Ms Shivani Poddar (Co-Founder). Young, fashion-forward and completely in sync with the modern first jobber, faballey.com is pleased to announce a growth of 50% month-on-month and more than 600 orders per day.
Co-Founder Shivani Poddar was a former Investment Banker at Avendus Capital and Tanvi Malik, has former brand management experience for the Fashion and Sports categories at Titan Industries Limited. Back in 2012, the two 25- year old realized that India had next to no access to global fashion trends at affordable prices. They seek to eliminate this need-gap felt by 20-something women like them across India with FabAlley.
FabAlley started as an accessories–only brand, but added apparel to its repertoire in early 2013. Clothing now comprises more than 80% of FabAlley’s revenue with more than 300 new SKUs introduced every month. Currently employing over 100 young fashion enthusiasts, FabAlley.com is a private label that works on a fast-fashion model.
“We have more than 1000 styles within Clothing alone, with another 500 in Accessories. We work on a fast-fashion model, wherein we design, produce and launch new products every week. Our target audience comprises of young, discerning and fashion– forward women. We ensure that our lead time from trend-mining to production is really short so that we can always reach out to her with fresh new wares every week”, says Tanvi Malik, Co-Founder of FabAlley.
FabAlley follows an inventory-led business model, with a strong in-house designing team, technology team and a very tight vendor network to ensure that the turn-around times remain minimal. The start-up is clocking more than Rs. 1.1 Crore as revenue, and growing at a break neck pace of 50% Month-on-month.
“The online fashion space in India is still at a very nascent space and women oriented online sales are set to become 5 X in the next three years. We feel there is a huge potential for an affordable, quirky, fast-fashion brand like FabAlley to dominate this space in the next 2-4 years, both through differentiated products and robust fashion content.
Up next for FabAlley, are 12-18 months of conscientious Brand-building activities
through both ATL and BTL channels,” says Shivani Poddar, Co-Founder of FabAlley.
