With their Fashion Label, FabAlley, both of these women entrepreneurs are enabling women to wear heart on the sleeves
Blenders Pride Reserve Collection presents Entrepreneur’s 35U35 list included some path-breaking names from the field of entrepreneurship and Tanvi Malik & Shivani Poddar managed to get to the list due to their fashion label, FabAlley, an online fashion store for women to showcase eccentric identities by a means of unique clothing at prices that wont make women go white. Below is their amazing story!
Quitting a comfortable, promising role at a conglomerate firm to launch an unbiased label in the mercurial world of fashion is a career move that lots of would refrain to create. This is why MBA graduates Tanvi Malik and Shivani Poddar weren’t daunted by the prospects of failure. A straightforward conversation about how exactly every woman on the metro looked almost the same and their shared apathy for the generalizations that was included with it embarked both on the maiden entrepreneurial journey. They quit their corporate jobs in 2011 to be visionaries with a penchant for showcasing eccentric identities by method of unique clothing at prices that didn’t make women go white.
With just a little apprehension but a whole lot of vigor, they birthed TRADITIONAL Essentials’ (HSE’s) flagship brand, FabAlley . Wear your heart on your own sleeves could be a judicious tagline for the brand. Tanvi and Shivani were quick to understand a problem in the market – having less wardrobe solutions including all body types and social occasions. Most fusion-wear brands were too culturally coded to maintain with the changing value systems of young Indian women seeking to style their saris and skirts, just a little differently. The duo, riding on the initial idea’s success, launched daughter brands Indya, an indo-western fusion line and Curve, their plus size clothing venture immediately after. Reflecting on her behalf label’s initial, testing years, Tanvi says, “We struggled to obtain the right product-price-market fit. Hiring the proper talent was also a challenge as much professionals in the field were hesitant to bet on rebellion. However, knowing our customer’s needs inside out and being brave enough to meet up them paid off as time passes.”
HSE now records an 80 percent+ Year-on-Year growth and may be the only online-led company in the united states to be profitable. It broke even in FY18 with product sales of Rs 80 crore and is on the track to close FY19 while staying EBITDA positive. To create their clothes more accessible, the duo also runs 135 offline retail touch points along with servicing 120,000 orders per month on their websites. Client satisfaction is more rewarding to them compared to the Rs 60 crore funding they secured from SAIF Partners at a recently available Series B round in late 2018. Asked about the street ahead, Shivani Poddar says, “The recent Series B capital infusion can help us scale our offline presence to 250 outlets by the finish of FY20. Collaborations with social media influencers and bloggers may also render our websites more visible. Indian women have traditionally been likely to be meek within their expression and we’re glad to be changing that.”