Premium fast-fashion brand French Crown has raised INR 8.6 Cr financing from Velocity.in

2026-07-13 09:33:12 Business

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Bangalore, 22 June 2023: Dedicated premium fast-fashion brand French Crown has raised INR 8.6 Crores over multiple tranches from Velocity.in, India\'s largest revenue-based financier. With a vision to revolutionize the fast-fashion industry, French Crown has made significant strides in expanding its global reach, boasting a remarkable presence in over 90 countries.

French Crown, a renowned player in the fashion industry, is creating a stir with its unwavering dedication to innovation and style. With a remarkable track record of launching over 200 new designs every week, the brand is captivating fashion enthusiasts worldwide. Unlike conventional apparel companies, French Crown stays ahead of the curve by leveraging its creative prowess and in-depth understanding of market trends.

Ilesh Ghevariya and Bhavidip Ghevariya, Co-Founders of French Crown 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 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. 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.\"

French Crown has successfully cracked the code to overcome one of the biggest challenges faced by major brands in the fashion industry - dead stock. Utilizing advanced forecasting algorithms and tailor-made in house inventory tracking management systems, they minimize waste and optimize inventory management. Their seamless coordination from design to distribution ensures every garment finds a satisfied customer, fostering sustainability and efficiency in the fast-fashion landscape.

While social media has become the go-to platform for fashion advertising, French Crown sets itself apart by consistently offering fresh designs that entice customers. With each visit, customers are greeted with a delightful array of unique, trendy garments, ensuring a shopping experience that is always fresh and exciting. With an impressive 50% customer retention rate vs. the industry average standard of 28.2%, French Crown has proven its ability to captivate and engage its audience.

Beyond their relentless creativity, French Crown is dedicated to sustainability and ethical practices. While the fast-fashion industry has faced criticism for contributing to pollution and exploitation, French Crown takes a different approach. This commitment to responsible fashion is a testament to their unwavering dedication to making a positive impact.

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 conscious fashion. Their success demonstrates that fashion can be both stylish and sustainable, inspiring the entire industry to embrace a more responsible approach to production and consumption.\"

As French Crown continues to grow and captivate the fashion world, their ability to offer a wide range of designs each week remains a key element of their success. With an ever-expanding customer base and a strong presence on social media, the brand is poised to become the go-to destination for fashion-forward individuals seeking fresh, unique, and sustainable apparel options.

About French Crown:

French Crown, founded by Ilesh Ghevariya and Dhavdip Ghevariya, is a leading fashion brand known for its high-quality and trendy apparel. With a strong focus on innovation and customer satisfaction, French Crown has become a prominent player in the fashion industry by launching 200+ designs each week. The company\'s commitment to sustainable practices and ethical standards sets it apart, making French Crown a preferred choice for fashion-conscious consumers worldwide.

About Velocity.in:

Velocity was launched in early 2020 by IIT Bombay graduates Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop. The founding team has a strong background in India\'s financial services and tech startup ecosystem. They previously worked in companies like Elevation Capital (earlier SAIF Partners), McKinsey, Acko Insurance, and HackerRank. Velocity is their second tryst with entrepreneurship. The trio had earlier worked together at Taskbob, a managed marketplace for high-quality home services.