In to fuel innovation and challenge quality compromises in the industry.
In a recent development, French Crown, a fast-fashion brand, has secured INR 8.6 crore in funding across multiple tranches from Velocity.in, a leading revenue-based financier in India. The company has expressed its intention to utilize the investment to maintain its competitive edge through innovative designs and a deep understanding of the market, challenging the common perception of compromising quality in the fast-fashion industry.
Co-founders of French Crown, Ilesh Ghevariya and Bhavidip Ghevariya, emphasized the significant impact of Velocity’s support and funding on their business. They highlighted the strategic partnership with Velocity as instrumental in achieving a major milestone, propelling French Crown to become a bootstrapped brand valued at INR 100 crore.
In a press release, Ilesh Ghevariya expressed his enthusiasm about the partnership with Velocity.in, stating, “This partnership has enabled us to invest in strategic marketing initiatives, resulting in increased brand visibility across the globe.”
French Crown has set its sights on revolutionizing the fast-fashion industry and has already made remarkable progress in expanding its global presence, boasting an impressive reach in over 90 countries. The brand attributes its success to the utilization of advanced forecasting algorithms and tailor-made, in-house inventory tracking management systems. By leveraging these tools, French Crown minimizes waste and optimizes inventory management, positioning itself as a forward-thinking player in the industry.
Atul Khichariya, the co-founder and COO of Velocity, commended the pivotal role played by Velocity as a growth partner in French Crown’s remarkable success story. He acknowledged French Crown’s steadfast commitment to sustainability, underscoring the brand’s ability to introduce over 200 new designs every week while upholding fair trade practices and minimizing environmental impact. French Crown achieves this by incorporating eco-friendly materials, adopting ethical manufacturing practices, and prioritizing transparency throughout its supply chain. These efforts have solidified French Crown’s position as an influential force in the realm of conscious fashion.
The funding from Velocity not only bolsters French Crown’s expansion plans but also strengthens its ability to challenge industry norms and provide consumers with quality fast-fashion alternatives. As the brand continues to innovate and make strides in the market, it aims to reshape the perception of fast-fashion by offering unique, trendsetting designs without compromising on quality.
The investment received from Velocity has positioned French Crown on a trajectory of growth and global recognition, empowering the brand to further its mission of disrupting the fast-fashion landscape with sustainable practices and a commitment to excellence.
About French Crown
French Crown is an Indian fashion brand that was founded in 2016 by Bhavdip Ghevariya. The company sells men’s and women’s clothing, including shirts, trousers, suits, blazers, dresses, and more. French Crown is an internet-first brand, meaning that it sells its products exclusively online.
The company’s target market is men and women in their 20s and 30s who are looking for stylish and affordable clothing. French Crown’s products are made from high-quality materials and are ethically produced. The company is committed to sustainability and is working to reduce its environmental impact.
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The Entrepreneur Today Desk