French Crown, a leading fast-fashion brand, has recently secured INR 8.6 crore in funding from Velocity.in, a revenue-based financier based in India. The company has expressed its intention to utilize this investment to maintain its competitive edge by introducing innovative designs and enhancing its market understanding. French Crown aims to challenge the prevailing perception that fast-fashion compromises on quality.
Co-founders of French Crown, Ilesh Ghevariya and Bhavidip Ghevariya, emphasized the significance of Velocity’s support and funding in the brand’s growth. They stated, “The support and funding provided by Velocity has been instrumental in helping 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.”
French Crown is committed to revolutionizing the fast-fashion industry and has made substantial progress in expanding its global presence. With a remarkable reach spanning over 90 countries, the brand attributes its success to advanced forecasting algorithms and in-house inventory tracking management systems. These technological advancements not only minimize waste but also optimize inventory management.
Atul Khichariya, the co-founder and COO of Velocity, praised French Crown’s growth and underscored the role of Velocity as a growth partner. He stated, “Velocity, as a growth partner, has been instrumental in fueling the remarkable success of 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.”
The collaboration between French Crown and Velocity highlights the brand’s dedication to sustainable practices and responsible fashion. French Crown’s emphasis on fair trade, eco-friendly materials, and transparent supply chains has positioned them as an influential player in the conscious fashion movement. With their recent funding and strong partnerships, French Crown is poised for further growth and success in the fast-fashion industry.
The Entrepreneur Today Desk