Total amount raised
₹86 Million
Latest funding date
6/1/2023
Location
French Crown has successfully raised funding in two corporate rounds, both led by Velocity. The brand operates as a fast fashion Direct-to-Consumer (D2C) platform, offering a wide range of luxury and designer clothing for men and women.
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, is a premium apparel brand specializing in men's and women's fashion. The company operates on a fast fashion Direct-to-Consumer (D2C) model, offering a wide range of luxury and designer clothing. Based in Surat, Gujarat, India, French Crown has a significant global presence, delivering products to over 80 countries.
With an employee count ranging between 251-500, French Crown emphasizes sustainability and zero deadstock in its supply chain. The brand is known for its high-quality dress materials and trendy designs, including suits, blazers, shirts, and more. French Crown's commitment to fashion accessibility is evident in its offerings of customized and plus-size products.
How Much Funding Has French Crown Raised?
- Amount Raised: $260,000
- Date: April 2022
- Lead Investors: Velocity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and expansion of French Crown's e-commerce business.
- Amount Raised: $1.04 million
- Date: June 2023
- Lead Investors: Velocity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in strategic marketing initiatives, increasing brand visibility globally.
Total Amount Raised: $1.3 million. Current Valuation: Not publicly disclosed.
Key Investors
- Velocity
- Details: Velocity is a revenue-based financing platform that provides funding to e-commerce businesses in India. It offers an alternative to traditional venture capital and bank loans.
- Investment Focus Areas: Revenue-based financing, e-commerce, growth capital.
- Notable Investments: Power Gummies, SUMOOR, Crossbeats.
What's Next for French Crown?
French Crown stands poised to capitalize on several promising opportunities. With a presence in over 90 countries and a high customer retention rate, the brand is well-positioned to expand its global footprint. The recent funding will fuel strategic marketing initiatives, enhancing brand visibility and driving growth. Additionally, the continuous introduction of over 200 new designs each week keeps the brand fresh and appealing to fashion-forward consumers.
Future fundraising opportunities appear bright, with the potential for additional rounds of revenue-based financing or even traditional venture capital. The brand's impressive growth trajectory and commitment to sustainability make it an attractive prospect for investors. However, challenges such as maintaining high customer retention rates and managing the complexities of global operations remain. Balancing rapid design turnover with sustainability will also be crucial as French Crown navigates the competitive fast-fashion landscape.
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