Fabriclore, a fabric sourcing firm located in Jaipur, has successfully raised ₹13 crore, or roughly $1.6 million, in an investment round headed by Regal Fabrics from the USA and PeerCapital from Bengaluru. Fabriclore’s goal to use technology and streamline procedures to transform India’s $20 billion fabric supply chain would be aided by this investment.
From Retail Brand to B2B Powerhouse
When Fabriclore was first founded in 2016 by Vijay Sharma, Sandeep Sharma, and Anupam Deo Arya, it was a contemporary retail brand that provided a carefully chosen assortment of more than 10,000 fabrics made by more than 550 suppliers in India. However, Fabriclore deliberately shifted to the B2B market in 2023 after realizing the enormous potential of the disjointed and intricate fabric supply chain.
Building a Tech-Enabled Ecosystem
Fabriclore’s competitive edge lies in its ability to streamline the intricate multi-stage fabric procurement process. This includes tasks like dyeing, screen printing, digital printing, and black printing techniques. By implementing a tech-driven approach, the company boasts a 20% reduction in delays and customer rejections, setting a new benchmark for efficiency.
Addressing a Critical Need
According to Fabriclore’s CEO, Vijay Sharma, a significant portion (50-60%) of a brand’s product development cost is attributed solely to fabric sourcing. Fabriclore aims to address this pain point by creating a comprehensive suite of tools that simplifies fabric ownership, sourcing, production, and design management for fashion businesses.
Investment Rationale
PeerCapital’s Managing Partner, Ankur Pahwa, acknowledges the immense potential within the B2B fabric supply chain, emphasizing the need for extensive experience and a deep understanding of the fragmented landscape. He commends Fabriclore’s team for their expertise and their commitment to leveraging technology to revolutionize the industry.
Early Traction and Growth
Fabriclore has successfully onboarded over 200 private labels from India and the Middle East in just one year since joining the B2B market in 2023. In order to guarantee that customers obtain the required certifications for their fabrics, the firm has also forged alliances with international testing laboratories.
With this most recent fundraising round, Fabriclore is able to further establish itself as a major participant in the fabric supply chain in India. Fashion enterprises stand to gain greatly from the company’s emphasis on innovation and technology, as it simplifies procedures, lowers expenses, and boosts productivity.
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