French Crown – a D2C fast fashion brand has announced a ground-breaking financial push of INR 8.5 crores from Velocity, a leading financial technology firm. This infusion of capital propels French Crown into an era of unprecedented growth, propelling the brand's international expansion and cementing its position as a dominant force in the global fashion landscape.
Having a futuristic vision to justly utilize the finance raise, French Crown has already expanded its office and warehouse space in Surat plus has recently hired more innovative brains to further propel its mission and vision.
Ilesh Ghevariya, Co-Founder, French Crown said, “We extend heartfelt thanks to our partners for their trust and support, enabling us to secure significant funding. With this capital infusion, we're committed to acquiring lifelong customers, delivering exceptional content and seamless platform experiences, and addressing global fashion challenges. This second financing round by Velocity of INR 8.5 crores, following our successful INR 2 crores round, showcases their increased confidence in us. We're expanding our reach in the women's wear market and revamping the brand's image, including featuring international models to showcase our global fashion products. Through extensive marketing and digital platforms, we'll forge lasting connections with fashion-conscious consumers worldwide.”
Since its establishment in 2016 at Surat, Gujarat, by visionary Co-Founders Ilesh Ghevariya and Bhavidip Ghevariya, the home-grown brand, French Crown has shattered expectations, surpassing the INR 100 crore milestone within a very short span of time.
Bhavidip Ghevariya, Co-Founders, French Crown shares, “The company has seen 100 per cent growth across all categories of its product line and has served over 8 lakh customers through its platform, and other channels. The current French Crown product range consists of shirts, suits, boxers, pyjamas, jeans among others. We will be now expanding our women’s wear segments. We already deliver in over 90 countries globally and plan to enter other markets by mid-2024.”
While the fast-fashion industry has faced criticism for contributing to pollution and exploitation, the French Crown takes a different approach. Beyond their relentless creativity, French Crown is dedicated to sustainability and ethical practices. The strategic partnership with Velocity has accelerated this remarkable journey and solidified French Crown's reputation as an influential player in the fashion industry.
Atul Khichariya, the co-founder of Velocity, stated, "We are excited to have played a crucial role as a growth partner in fueling the French Crown's remarkable journey. The brand's commitment to sustainable practices, ethical manufacturing, and transparency has positioned it as a force that is reshaping the future of conscious fashion."
