FASHOR Secures $5 Million Funding from Blume Ventures to Accelerate Omnichannel Growth
- ByStartupStory | August 14, 2024
FASHOR, a direct-to-consumer (D2C) women’s apparel brand, has successfully raised $5 million in a funding round led by Blume Ventures. The newly acquired capital is set to drive FASHOR’s omnichannel growth strategy, strengthen its brand presence, and enhance its supply chain operations, according to a statement released by the company.
Founded in 2017 by Vikram Kankaria and Priyanka Kankaria, FASHOR specializes in trendy Indian and indo-western clothing for women, catering to a diverse and fashion-forward audience. The brand has rapidly gained popularity for its stylish yet affordable offerings.
“This investment marks a significant milestone for our company, and we are delighted to welcome a pedigreed fund like Blume Ventures to our cap table. We are excited to leverage this partnership to drive our next phase of growth, with a continued focus on delivering exceptional value to our customers,” said Vikram Kankaria, Co-founder and CEO of FASHOR.
The funding will enable FASHOR to further expand its retail presence, with plans to open more than 100 brand stores across India in the coming years. This move is part of the brand’s broader strategy to establish a strong offline presence while continuing to build on its online success.
Last week, FASHOR announced a strategic partnership with Bollywood actress Sara Ali Khan, who has been signed on as the brand’s inaugural ambassador. The campaign, titled “Dil se Indian,” aims to resonate with the brand’s target audience and further solidify its market position.
“Priyanka and Vikram have instilled a strong product DNA in FASHOR, supported by a scalable supply chain, that enables them to offer price points untouched by national incumbents. While largely online, they are making strides into building an offline presence. We are excited to support them as they blend their passion for design and business to create a large and deeply loved brand,” said Apurva Dixit, AVP Investments at Blume Ventures.
FASHOR’s latest funding round follows a $1 million Pre-Series A round in 2020, which was led by Sprout Venture Partners, IP Ventures, and Venture Catalysts, with additional contributions from several high-net-worth individuals (HNIs).
“At FASHOR, Vikram and Priyanka have created a strong brand addressing a whitespace in the masstige festive & occasion wear category. We look forward to partnering with them on the next phase of their journey, expanding the brand’s presence across offline channels and helping scale supply chains to support this growth,” said Sajith Pai, Partner at Blume Ventures.
Sprout Capital and Private Circle served as the financial advisors for this transaction.
About FASHOR:
FASHOR is a Chennai-based D2C women’s apparel brand that offers trendy and affordable Indian and indo-western clothing. Founded in 2017, the brand has quickly established itself as a go-to destination for fashion-conscious women across India.
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