Premium fast-fashion brand French Crown has raised Rs 8.6 crore in multiple tranches from revenue-based financier Velocity. in. The company says it has embarked on global expansion, with a presence in over 90 countries so far.
“This partnership has enabled us to invest in strategic marketing initiatives, resulting in increased brand visibility across the globe, and has helped us achieve a significant milestone by becoming a Rs 100-crore bootstrapped brand, demonstrating our ability to grow in a highly competitive market,” said Ilesh Ghevariya and Bhavidip Ghevariya, Co-Founders of French Crown.
The company says it has a 50 per cent customer retention rate compared to the industry average of 28.2 per cent. Moreover, it launches over 200 new designs every week by leveraging its understanding of market trends, according to a press release.
“With a steadfast commitment to sustainability, the company has proven that it’s possible to launch over 200 new designs every week while practising fair trade and minimising their environmental impact,” said Atul Khichariya, Co-Founder and COO of Velocity.