Indian online women's apparel brand Fashor raises $1 mn
January 03, 2020 - India
Indian women’s fashion start-up Fashor recently announced raising $1 million in a pre-series A funding round led by venture capital firm Sprout Venture Partners. The round also saw participation from IP Ventures, Venture Catalysts and other investors. The funds will be used to accelerate growth and expand brand presence, both in online and offline channels.
Chennai-based Fashor was founded by Vikram Kankaria and Priyanka Kankaria in 2017. The company offers trendy Indian and Indo-western clothing for women.
The company now has over 75,000 customers and claims to generate over 70 per cent profit through its website and mobile app.
Vikram said in a statement that 80 per cent of the women’s apparel industry is owned by unbranded companies. Fashor believes that it is going to make use of the opportunity to create a disruption in the niche segment and emerge as one of the leading affordable fashion brands in the country, according to Indian media reports.