Brands
FableStreet raises Rs 21 cr in series A round led by Fireside Ventures
MUMBAI: FableStreet – a technology-enabled premium work wear brand, offering timeless, versatile pieces, with custom fits for women, has raised Rs 21 crore in Series A led by Fireside Ventures. Industry power-lifters including Uber India and South Asia president Pradeep Parameswaran,Deutsche Bank MD and head of technology Dilip Khandelwal, and RP-Sanjiv Goenka Group (FMCG) CEO Suhail Sameer have also participated in this round and invested in their personal capacities.
The newly raised funds will be utilised for market expansion including offline presence, adding product categories and hiring senior professionals who will partner in growth and brand building. As a tech-enabled brand, it also plans to invest in AI and machine learning to build a customer recommendation engine, strengthen product development and set up a tech-enabled efficient supply chain. FableStreet is already ahead of curve in this space with its strong data-backed proprietary tailored fit algorithm – a sizing algorithm that only requires the customer to provide three body measurements online to extrapolate the remaining measurements to 95 per cent accuracy and build a custom-fit garment.
FableStreet plans to enter offline retail with brand-owned stores in the coming months and will now adopt an omnichannel model.
The three-year-old home-grown brand has a significant customer base within India and, internationally and, is endorsed by top women CXOs in the country. It has registered a growth of 50 per cent Q-o-Q. The return rate for its products is negligible, in contrast to most e-commerce players, owing to their focus on product quality and fits. Besides, it generates half of its revenues from repeat customers – a proof of its brand loyalty.
The brand is one of the first Indian brands to tap the growing white space of ‘women’s formal wear with a unique business model and competes with the likes of Marks & Spencer, Massimo Dutti, Zara amongst others in quality workwear category.
FableStreet founder and CEO Ayushi Gudwani said, “We are building a one-stop destination for all lifestyle needs of professional women. Since launch, we have seen massive product acceptance, globally, and our ‘My Style, Your Fit’ concept to offer bespoke fits has to be the real differentiator. We are excited to partner with Fireside in this journey to scale FableStreet.”
Fireside Ventures partner and CFO Dipanjan Basu quoted, “We have been impressed with strong brand followership and customer excitement for FableStreet. The brand has a sharp understanding of customer needs and has constantly evolved to provide quality and unique solutions to address them. We, at Fireside, believe that personalization and technology-driven business models will be the new frontrunners in the consumer segment and are pleased to support Ayushi and her vision to provide quality and premium work wear to women.”
Basu is also joining FableStreet as one of the board members.
FableStreet operates in a $1.2+ Billion work wear industry which is still a white space and undergoing fundamental evolution with increasing the number of women entering the workforce and, with consumers investing in quality clothing.
In 2017, FableStreet had raised an undisclosed sum in seed funding from a clutch of angel investors including Fashion Veteran, Harmeet Bajaj, Unilever vice president Pameela Pattabiraman, Fusiontech Ventures and other investors in the consumer, retail, and technology sectors.
Brands
Aditya Birla Fashion & Retail reshuffles top deck; Nikhil Modha to take over as CFO
Phased transition sees Marco Agnolin head OWND!, Nikhil Modha lined up as CFO as company readies next growth leg
MUMBAI: Aditya Birla Fashion & Retail is redrawing its leadership map, lining up a new generation of executives across key roles as it prepares for its next phase of growth.
The company has named Suraj Bahirwani as chief executive (designate) of Pantaloons, effective April 1, 2026, with a full transition to the top role slated for October 1, 2026. He will also be designated as senior managerial personnel.
A two-decade veteran of the Aditya Birla Group, Bahirwani joined as a group management trainee in 2002 and has since held a string of leadership roles across retail and manufacturing. His resume spans stints at Aditya Birla Retail, a tenure as chief operating officer of Pantaloons, and most recently, head of global sales at the group’s cellulosic fibres business, where he drove international expansion and strengthened value-added portfolios.
Academically, he holds a PhD from the University of Mumbai, a postgraduate management diploma from SP Jain Institute of Management and Research, and is a chartered accountant. Over the years, he has picked up multiple chairman’s awards, including distinguished achiever, exceptional contributor and accomplished leader.
The transition at Pantaloons will be staged. Incumbent chief executive Sangeeta Tanwani will continue until September 30, 2026, steering the handover before moving into an advisory role to the managing director from October 1, 2026. She is set to retire on January 31, 2027, at which point she will step down as whole-time director and key managerial personnel.
Alongside, the company has brought in Marco Agnolin as chief executive of OWND! and senior managerial personnel, effective April 6, 2026. Agnolin arrives with over three decades of global experience, having held senior roles at Inditex, where he helped expand Zara in Italy, and later served as chief executive of Bershka and Diesel. His track record spans fast fashion, brand turnarounds and youth-focused retail.
On the finance side, Nikhil Modha has been appointed chief financial officer (designate) and senior managerial personnel from April 1, 2026. He will assume full charge as chief financial officer and key managerial personnel from January 1, 2027.
Current chief financial officer Jagdish Bajaj will oversee a phased transition until December 31, 2026, before retiring and stepping down from his roles.
The reshuffle signals a calibrated succession plan rather than a sudden overhaul, with the company staggering exits and appointments to ensure continuity even as it refreshes leadership across verticals.
As Aditya Birla Fashion & Retail juggles legacy brands and new-age formats, the message is clear: steady hands for the present, sharper ones for the future—and no pause in the push for scale.
