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    FableStreet raises seed capital

    Synopsis

    The Delhi-based startup plans to use the money to scale up operations and its team. It will also open international shipping and pilot a concept store model, FS Studio.

    ET Bureau
    NEW DELHI: FableStreet, a premium work-wear brand, has raised a seed round from angel investors — Kanwaljit Singh (MD, Fireside Ventures), Harmeet Bajaj (founding member, NIFT), Pameela P (senior director, Unilever), Fusiontech Ventures and others.

    The Delhi-based startup plans to use the money to scale up operations and its team. It will also open international shipping and pilot a concept store model, FS Studio.

    The startup was launched in 2016 by Ayushi Gudwani, an ex-McKinsey consultant and IIM Calcutta alumnus.

    Gudwani spent more than a year on R&D to build proprietary sizing algorithm for Indian bodies and to understand quality, fabrics and garment construction before launching the brand. It competes with others in this space including Kaaryah which is backed by Ratan Tata and Mohandas Pai, and Limeroad among others.

    FableStreet offers premium work-wear for women. In less than 10 months of launch, the startup claims to have built a significant fan-following from professional women in the metros and tier-I cities. “FableStreet plays in a large, underserved and growing women’s wear market. It has a clear and unique value proposition validated by its consumers. They are already seeing extensive repeat purchases and extremely low returns (which are unheard of, in apparel industry),” said Kanwaljit Singh. FableStreet has a unique business model — unlike existing etailers, they do not discount but offer quality and luxury at value-for-money price point.
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