Gujarat-based fast-fashion brand French Crown has secured INR 8.6 crore in funding over multiple tranches from financial technology firm Velocity, according to a press release. This funding will be instrumental in supporting French Crown’s ambitious plans to expand its presence in international markets.

A Milestone in Bootstrapped Success

French Crown has achieved a remarkable feat by becoming a bootstrapped brand worth INR 100 crore, a testament to its strategic growth and strong market positioning. The brand’s collaboration with Velocity has been a key factor in reaching this milestone.

“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,” stated Ilesh Ghevariya, CEO of French Crown.

The financial backing from Velocity has enabled French Crown to invest in crucial marketing initiatives that have significantly enhanced its brand visibility on a global scale. Ghevariya added, “This partnership has enabled us to invest in strategic marketing initiatives, resulting in increased brand visibility across the globe.”

The French Crown Journey

Founded in 2016 by the Ghevariya brothers, French Crown has grown into a prominent direct-to-consumer (D2C) fast-fashion brand. Over the years, it has successfully established a presence in over 90 countries, catering to fashion-conscious consumers worldwide. The company’s ability to rapidly introduce new designs and maintain a loyal customer base has been instrumental in its success.

“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 has solidified our position as a leader in the industry while debunking the notion that fast fashion compromises quality or value,” explained Dhavdip Ghevariya, co-founder of French Crown.

With a customer retention rate of 50%, significantly higher than the industry average of 28.2%, French Crown has demonstrated its capability to build lasting relationships with its customers. This high retention rate underscores the brand’s commitment to delivering quality fashion products while keeping customers engaged with fresh and innovative styles.

Velocity’s Role in French Crown’s Growth

Velocity, a Bengaluru-based financial technology firm, specializes in providing revenue-based financing to fuel the growth of D2C e-commerce businesses. Since its inception in 2020, the company has funded over 3,500 businesses, helping them scale efficiently without diluting equity.

Atul Khichariya, co-founder of Velocity, expressed his enthusiasm about French Crown’s growth trajectory and the role played by Velocity in its success. “I am thrilled that Velocity, as a growth partner, has been instrumental in fueling the remarkable success of French Crown. By incorporating eco-friendly materials, adopting ethical manufacturing practices, and prioritizing transparency in the supply chain, French Crown has emerged as an influential force in conscious fashion,” stated Khichariya.

Expanding the Global Footprint

With the newly acquired funding, French Crown is focused on strengthening its presence in key international markets. The brand has already made a mark in various countries and aims to expand further through targeted marketing efforts and product diversification.

By staying committed to its core values of quality, innovation, and sustainability, French Crown is not just another fast-fashion brand but a trailblazer in the industry. The company’s focus on using eco-friendly materials and ethical manufacturing practices aligns with the growing consumer demand for sustainable fashion options.

Looking Ahead

As French Crown continues its journey towards global expansion, its partnership with Velocity remains a crucial element of its growth strategy. With a strong financial backing, a loyal customer base, and a commitment to quality, the brand is well-positioned to become a leading name in the global fast-fashion landscape.

This latest funding round is expected to further accelerate French Crown’s efforts in capturing new markets, enhancing customer experience, and maintaining its competitive edge in the fast-paced fashion industry. With its unique approach to fast fashion, the brand is poised to redefine industry standards while maintaining a strong connection with its customers worldwide.