Founded by Ayushi Gudwani, FableStreet has grown from strength to strength and is targeting 3x growths this year after experiencing a 30%+ QoQ growth in the last seven quarters.
FableStreet (FS), premium women work wear brand, has announced a record growth in business and two years of successful operations. Founded by Ayushi Gudwani, FableStreet has grown from strength to strength and is targeting 3x growths this year after experiencing a 30%+ QoQ growth in the last seven quarters.
The brand strengthened its standing in the market by acquiring a seed round of funding from angel investors, namely Kanwaljit Singh (MD Fireside Ventures, former MD Helion Ventures), Harmeet Bajaj (Fashion Multipreneur, 25+ years in International and Domestic Fashion Industry), Pameela P (Sr. Director at Unilever), Fusiontech ventures and other selected investors in the consumer, retail and tech space.
Ayushi Gudwani, CEO of FableStreet, said, "We have surpassed our own expectations when it comes to growth of business and we hope to continue building our brand at the same pace. Our vision is to become the most sought-after professional wear brand for Indian women domestically and globally. Our average order size at present is at least twice of other online platforms and our returns currently are in early single digits."
"We currently engage with over a million women online every month and have served close to 25,000 customers since our launch. We now plan on venturing into producing accessories and other categories of products that professional women need. We are also inclined towards entering the offline retail market through no-inventory concept stores in metros along with focusing on expansion in India and international markets," she further added.
The company has grown almost 20 times compared to their first month sales in the last two years and proudly receives 50% of their business from repeat customers at present.
For further their expansion, FS will aim to raise the second round of funding for the brand next year. They also collaborated with known designer Nandita Basu to launch a limited edition capsule work-wear collection and are in the process of launching their second edition of designer work wear with her. They hope to see a 100% growth in their revenues in the coming year and increase their international sales by 300%.