Total amount raised
₹86 Millions
Latest funding date
6/1/2023
Location
French Crown has successfully raised significant funding, including a notable investment of Rs 30 crore from Donear Suiting. The company operates as an E-Commerce Men's Clothing Fashion Store, offering a wide range of products from suits to ethnic wear.
Keep reading to explore the intricacies of French Crown's fundraising journey and the investors backing this innovative platform.
What Is French Crown?
French Crown, founded in 2016 by Ilesh Ghevariya, is a modern men's fashion brand based in Surat, Gujarat, India. The company emphasizes sharp and minimal design aesthetics, focusing on fit, structure, elegance, and style for the modern consumer.
With a team of 251-500 employees, French Crown offers a variety of men's fashion products, including suits, shirts, blazers, pants, waistcoats, and ethnic wear. The brand serves over 40 countries and has a physical presence in four major countries.
French Crown's commitment to craftsmanship and affordability has made it a globally recognized premium apparel brand. The company continues to expand its reach, providing high-quality, stylish, and affordable clothing for men worldwide.
How Much Funding Has French Crown Raised?
- Amount Raised: ₹20 crore
- Date: April 2022
- Lead Investors: Velocity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in strategic marketing initiatives and increase brand visibility globally.
- Amount Raised: ₹66 crore
- Date: June 2023
- Lead Investors: Velocity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch a luxury suiting brand and expand operational capabilities.
Total amount raised: ₹86 crore. Current valuation: Not publicly disclosed.
Key Investors
- Velocity
- Details: Velocity is a revenue-based financing platform that provides an alternative to traditional venture capital and bank debt for Indian e-commerce businesses. It offers financing at an interest rate of 4-8%.
- Investment Focus Areas: E-commerce, fintech, consumer brands.
- Notable Investments: Power Gummies, SUMOOR, Crossbeats.
- Donear Suiting
- Details: Donear Suiting is a leading textile company in India, known for its high-quality fabrics and innovative designs. The company has a strong presence in both domestic and international markets.
- Investment Focus Areas: Textiles, apparel, fashion.
- Notable Investments: Not publicly disclosed.
What's Next for French Crown?
French Crown's future looks promising with opportunities to expand its global footprint and enhance brand visibility. The company plans to leverage its recent ₹8.6 crore funding to invest in strategic marketing initiatives and introduce over 200 new designs each week, catering to a growing international customer base.
As the brand continues to grow, future fundraising opportunities may arise, potentially attracting traditional venture capital or additional revenue-based financing. However, challenges such as maintaining high customer retention rates and managing the complexities of global operations could pose hurdles. Despite these challenges, French Crown's commitment to innovation and sustainability positions it well for continued success.
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