Fast-Fashion Brand French Crown Raises INR 8.6 Crore From Velocity The company said that it plans to use the funding to stay ahead with innovative designs and market understanding, challenging the perception of compromising quality in fast-fashion
By Teena Jose
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A fast-fashion brand French Crown has raised INR 8.6 crore over multiple tranches from Velocity.in, India's revenue-based financier. The company said that it plans to use the funding to stay ahead with innovative designs and market understanding, challenging the perception of compromising quality in fast-fashion.
"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.
With a vision to revolutionize the fast-fashion industry, French Crown claims that it has made significant strides in expanding its global reach, boasting a remarkable presence in over 90 countries. Utilizing advanced forecasting algorithms and tailor-made in-house inventory tracking management systems, the company also added that it minimizes waste and optimize inventory management.
"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.
