Funding Alert

Indian D2C fashion brand and Shark Tank contestant – French Crown has raised Rs 2 crores from Velocity


French Crown, a premium menswear brand that manufactures sustainable apparel, has raised Rs 2 crores from Velocity.in, India’s largest revenue-based financing.

French Crown, founded in 2017 by Bhavdip and Ilesh Ghevariya, is a luxury fast fashion brand that sells over 3,000 SKUs on its website, ranging from suits and shirts to boxers. The company now has a presence in 84 countries and produces more than 60% of its sales outside of India.

“Deadstock is the reason most brands only release new stock twice a year.” The deadstock percentage in the apparel sector is normally around 30%. Given our long-term investments in the supply chain, we have very little deadstock at French Crown. We’ve also identified niches such as personalized products and plus-size clothes, where competition is low and margins are strong,” said Ilesh Ghevariya, co-founder of French Crown.

French Crown

“Our business approach is unusual in that we release over 200 new designs every week.” This is achievable thanks to our direct relationships with several textile mills and quick inventory turnover, which allows us to refresh our assortment on a monthly basis rather than every six months as most other companies do.” Ilesh continued.

Consumers, particularly international ones, have praised the French Crown’s unusual designs and high quality. The business is profitable now, with a net margin of 20%, at its current annual run rate of Rs 72 crores. The duo appeared on Shark Tank with the goal of raising money to address their rising working capital requirements, inspired by the demand for their product and growing top line. Despite having a bold ambition of being India’s first really global fashion company and a meteoric growth trajectory, they were unable to get a deal for the show.

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