Fashor, a Chennai based online women’s apparel brand, has now secured $1 million in the funding round of Series A round led by the Sprout Venture Partners. Venture Catalysts and IP ventures, with participation from a few HNI’s.
Vikram Kankaria, Co-founder of Fashor, said,
“Fashion is the first category that most consumers buy online and is soon going to emerge as the largest ecom category. Very few brands currently exist and over 80 percent of the $21 billion women’s apparel industry is unbranded. The company is well placed to capitalise on this growth opportunity for branded players and has seen strong traction since inception. The funding will help the company in accelerating growth and will help Fashor become a leading affordable fashion brand.”
Fashor plans to use the funding to expand to some other online and offline channels.
Sahil Gupta, Partner, Sprout Venture Partners, said,
“We like Fashor as there is a need for brands in the women’s wear market owing to a shift to branded clothing, because of the rise in fashion consciousness and increasing disposable incomes.”