Ethnic Wear Brand Fashor Raises US$ 5 Million In Funding Round
Fashor, an ethnic wear brand, has secured US$ 5 million in a funding round led by Blume Ventures. The investment, comprising both primary and secondary transactions, will be directed towards expanding the brand’s omni-channel presence, enhancing its supply chain and bolstering its overall brand development.
Founded by Vikram and Priyanka Kankaria, Fashor’s products are available through its website, app and major fashion marketplaces including Myntra, Reliance Ajio and Nykaa Fashion. Currently, about one-third of Fashor’s revenue comes from its direct online channels, while 55-60% is generated through these marketplaces, and the remaining 10% from offline sales.
“We are thrilled to partner with Blume Ventures to propel our next growth phase,” said Vikram Kankaria, CEO of Fashor. “Our focus remains on delivering exceptional value to our customers.” The company plans to open over 100 exclusive brand stores in the next few years, beginning with metro cities and later targeting Tier II cities, which currently account for more than 50% of its revenue.
The funding round also saw early investors, including Inflection Point Ventures, Venture Catalysts and Jito Angel Network, exiting with returns exceeding 500%.
Apurva Dixit, AVP Investments at Blume Ventures, praised Fashor’s approach, noting, “Fashor is revolutionizing ethnic wear with high-quality, affordable fashion. The brand’s strong product DNA and scalable supply chain sets it apart from national competitors.”
The Indian ethnic wear market, valued between Rs 30,000-35,000 crore and growing at 20-25% annually, continues to attract venture capital. Other brands in the sector, such as Libas and Koskii, have also recently secured significant investments.
