Fast-fashion brand French Crown raises Rs 8.6Cr from revenue-based financier Velocity

French Crown, a popular premium fast-fashion brand, has raised Rs 8.6 crore in a funding round led by Velocity.in, India's leading revenue-based financier. The brand aims to revolutionize the fast-fashion industry and has already gained a strong foothold in more than 90 countries.

According to the company's statement, The brand has introduced over 200 new designs every week, captivating fashion enthusiasts worldwide. Unlike traditional apparel companies, French Crown said it stays ahead of the game by utilizing its creative expertise and deep understanding of market trends.

Founded by Ilesh Ghevariya and Dhavdip Ghevariya, French Crown is a fashion brand that sells high-quality and trendy apparel. It uses advanced forecasting algorithms and customized in-house inventory management systems and minimizes waste, and optimizes inventory management. 

Ilesh Ghevariya and Bhavidip Ghevariya said, “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 an 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. Our ability to launch over 200 designs every week allows us to stay ahead of the competition and maintain a loyal customer base. Our commitment to offering something new and captivating with every collection has solidified our position as a leader in the industry while debunking the notion that fast-fashion compromises quality or value.”

Bengaluru-based Velocity offers revenue-based financing services to fuel the growth of D2C e-commerce businesses. Founded in 2020, the company has funded over 3,500 companies as of today.

Speaking about the funding, Atul Khichariya, Co-Founder & COO of Velocity, said, “I am thrilled that 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 a conscious fashion."

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