India's $165 billion fashion market has seen a surge of D2C brands in the past decade. Fabriclore aims to streamline fabric sourcing and customization for these brands, targeting 10x growth in revenue within three years.
JAIPUR, India - 03 July 2024 - Fabriclore, a leading tech-enabled fabric sourcing platform for fashion businesses, announced today that it has raised $1.6 million in funding led by PeerCapital, based in Bengaluru, and Regal Fabrics, based in the United Arab Emirates.
Founded in 2016 by a trio of seasoned entrepreneurs, Vijay Sharma, Sandeep Sharma, and Anupam Arya, Fabriclore's success is driven by its 8 years of extensive experience in streamlining a complex supply chain of textile sourcing and processing across India. From 2016 until 2022, Fabriclore created India’s largest modern retail brand, with a catalogue of 10,000 SKUs developed by over 550 suppliers across India. Combined with its rich experience in fabric sourcing, customization, and processing, the company pivoted to enter into India’s $20 Billion fabric supply chain market in 2023.
B2B supply chain is a segment that demands extensive experience, hands on know-how of the fragmented landscape and long-term resilient focus. Armed with these, team Fabriclore is best-positioned to innovate a dormant space with new-age tech enablement and create a catalysing impact on the fabric and D2C industry.
said Ankur Pahwa, Managing Partner at PeerCapital.
Within 12 months of its B2B pivot, it has onboarded 200+ private labels primarily from India and the Middle East. The company operates a 10,000-square-foot warehouse with an in-house quality inspection unit and has also forged partnerships with internationally accredited testing labs to provide certificates for specific tests required by clients.
To ease fabric sourcing experience for fashion brands, Fabriclore has also created India’s first Fabric Experience Studio in Jaipur, which offers a hands-on touch-and-feel experience of a vast portfolio of fabrics sourced from 50+ Mills. The experience studio goes further by offering a print catalog, design customization, and printed and dyed samples, all in one place for fashion brands to quickly make the fabric sourcing decision, and reduce time to market. Fabriclore plans to open more such experience studios in tier A cities in India and in UAE.
According to Vijay Sharma, CEO of Fabriclore,
Our key differentiator is streamlining complex multi-stage fabric processing that includes dyeing, screen printing, digital printing, and block printing techniques. By implementing tech-enabled processes, the company has substantially reduced delays by 20% and customer rejections by 33%, setting a new benchmark in the industry. On the other end 50 to 60% of the product development cost of a fashion brand is attributed to fabric sourcing alone across multiple different vendors for each garment collection that they develop. Therefore we are building add-on software tools for fashion brands to make fabric discovery, sourcing, production and design management much easier.
With this funding, Fabriclore plans to expand its presence in key markets, including India, the Middle East, Europe, and the USA. The company will invest in technology to further streamline its operations, enhance customer experience, and scale in international markets. Mr. Raju Shroff, Managing Director of 72 years old conglomerate Regal Group based in UAE, elaborated
Unlike China, the lack of organised textile sourcing and processing have limited the exposure of Indian textiles in global markets. With our 70 years of know-how fabric space in the Middle East and Europe, we saw tremendous potential in Fabriclore to take its expertise to several international markets.
Fabriclore has established alliances with leading fabric mills across India, curating the widest portfolio of Cotton, Viscose, Sustainable, and Polyester fabrics. The company ensures traceability and authenticity through direct partnerships with leading mills and yarn suppliers. The company is poised to triple its MRR within 1 year and supply 50 Lakh metres fabric annually to fashion brands globally.
Business Profiles
Fabriclore
Jaipur, India
Founded in 2016, Fabriclore is a VC backed tech-enabled fabric sourcing platform for fashion businesses globally, located in Jaipur, Rajasthan. The company provides, made-to-order fabric solutions including fabric discovery, design, dyeing, printing, and quality inspection all at a single point of contact at lower MoQs to D2C Fashion Brands and Multi Brand Retailers. It has built a network of fabric processing units with inhouse design, inspection and testing facility of 10,000 square feet. The company has also created India’s first Fabric Experience Studio in Jaipur that offers touch & feel of the highest variety of fabrics with dyeing and printing techniques, and designing, helping fashion businesses to simplify and speed up their fabric sourcing decision for each collection.
PeerCapital
Bengaluru, India
PeerCapital is an early-stage tech VC fund led by Ankur Pahwa, Karthik Prabhakar, and Rohit M A. With a collective five decades of experience in entrepreneurship, operations, growth, risk advisory, fund ops, investment, deployment, and returns management, the team supports founders in their zero-to-one journey.
PeerCapital invests in Seed to Series A stages across consumer-tech, fin-tech, health-tech, and SaaS, with initial cheques up to ₹15 Cr. Notable investments include Vaaree, Flash, Saveo, Terra, Stupa Sports Analytics, and Bidso.
Regal Group
Dubai, United Arab Emirates
Regal Group, established in 1952 in Dubai, is one of the Middle East’s most successful fabric companies, having over 70 years experience in the region and a strong retail presence with 17 stores spread across the UAE, KSA, Qatar, and Oman. The company has an extensive indenting and direct sales network across Europe, USA and South East Asia offering expertise across a host of premium wearable fabric categories. With Mr. Raju Shroff at the helm – Regal Group has grown to expand into technology, investments, and real estate.
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