The Journey of High Street Essentials: A Story of Innovation and Resilience in Fashion
In the dynamic world of fashion, adaptability and foresight are crucial for success. Shivani Poddar and Tanvi Malik exemplify these qualities through their entrepreneurial venture, High Street Essentials (HSE), co-founded in 2012. Their story of launching and growing the popular brands FabAlley and Indya reflects the spirit of innovation and resilience that defines successful startups.
From Corporate Careers to Fashion Pioneers
Before venturing into entrepreneurship, Shivani Poddar worked at Avendus Capital, where she found inspiration from various entrepreneurs. Her childhood friend and business partner, Tanvi Malik, brought marketing experience from her tenure at Titan. Together, they identified a promising opportunity in the burgeoning Indian women’s fashion market.
Laying the Foundation
With a shared vision, Shivani and Tanvi spent six months studying the market meticulously. They started their business from a tiny office with a bootstrap budget, personally handling everything from design to supply chain. Their early days were marked by hard work and frugality, as they relied on personal savings and gradually attracted investor funding to scale their operations.
The Rise of FabAlley and Indya
By 2016, FabAlley had achieved significant revenue milestones, signaling their entry into the competitive fashion industry. The following year, they launched Indya, a brand that quickly became the cornerstone of their business. Indya’s success was driven by its unique blend of traditional and contemporary styles, catering to modern Indian women looking for versatile fashion options.
Navigating the COVID-19 Crisis
The COVID-19 pandemic posed an unprecedented challenge, abruptly halting sales and placing financial strain on HSE. In response, Shivani and Tanvi swiftly adapted their product offerings to include masks and loungewear, meeting the new market demands. They implemented cash preservation strategies and took measures to keep their team intact, demonstrating their commitment to sustaining the business through turbulent times.
Current Standing and Future Outlook
Today, both FabAlley and Indya are renowned brands that resonate with young women across India. They offer a wide range of sizes and styles that emphasize comfort and contemporary fashion. The success of HSE can be attributed to its founders’ ability to innovate, adapt, and persist in the face of challenges.
Key Milestones of High Street Essentials
| Year | Milestone |
|---|---|
| 2012 | High Street Essentials (HSE) founded by Shivani Poddar and Tanvi Malik |
| 2016 | FabAlley reaches significant revenue milestones |
| 2017 | Indya launched, becoming a major part of HSE’s business |
| 2020 | Adaptation during COVID-19 with new product lines (masks and loungewear) |
Founders’ Background
- Shivani Poddar: Former Avendus Capital employee, inspired by entrepreneurs.
- Tanvi Malik: Marketing experience from Titan, recognized the potential in the women’s fashion market.
Strategic Adaptations
- Initial Phase: Bootstrap budget, personal savings, and initial investor funding.
- Pandemic Response: Introduction of masks and loungewear, cash preservation, team retention.
Product Offerings
- FabAlley: Focus on trendy, affordable fashion for young women.
- Indya: Combines traditional and contemporary styles, appealing to modern Indian women.
Conclusion
Shivani Poddar and Tanvi Malik’s journey with High Street Essentials is a testament to the power of innovative thinking and resilience in entrepreneurship. Their ability to navigate challenges, adapt to market needs, and maintain a customer-centric approach has established FabAlley and Indya as beloved brands in the Indian fashion industry. As they continue to evolve and grow, their story serves as an inspiration to aspiring entrepreneurs navigating the ever-changing landscape of business.