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French Crown, a fast-fashion company, has raised INR 8.6 crore from Velocity.in, India's revenue-based funder, over several installments.
The business stated that it intended to utilise the investment to challenge the idea that fast-fashion sacrifices quality in order to stay ahead with cutting-edge designs and market knowledge, as per reported by Entrepreneur.com.
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"The support and funding provided by Velocity has been instrumental in helping the French Crown. With Velocity's strategic partnership, we have achieved a significant milestone by becoming a INR 100 crore bootstrapped brand, demonstrating our ability to grow in a highly competitive market. This partnership has enabled us to invest in strategic marketing initiatives, resulting in increased brand visibility across the globe," said Ilesh Ghevariya and Bhavidip Ghevariya, co-founders, French Crown, in a joint statement.
French Crown claims to have reached over 90 nations in its quest to revolutionise the fast-fashion business. The organisation minimises waste and optimises inventory management using powerful forecasting algorithms and custom inventory tracking management techniques.
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"Velocity, as a growth partner, has been instrumental in fueling the remarkable success of the French Crown. With a steadfast commitment to sustainability, French Crown has proven that it's possible to launch over 200 new designs every week while practicing fair trade and minimizing their environmental impact. By incorporating eco-friendly materials, adopting ethical manufacturing practices, and prioritizing transparency in their supply chain, French Crown has emerged as an influential force in conscious fashion," said Atul Khichariya, co-founder and COO, Velocity.
About French Crown
French Crown is a well-known premium clothing brand for both men and women in India. The company has established itself as a trailblazer in the production of high-quality, uniquely designed clothing for both men and women in India.
