Fabriclore, an Indian technology-enabled fabric sourcing platform for fashion companies, announced that it has received $1.6 million in funding led by Bengaluru, India-based PeerCapital and UAE-based Regal Fabrics.
Founded in 2016 by entrepreneurs Vijay Sharma, Sandeep Sharma and Anupam Arya, Jaipur-based Fabriclore owes its success to its eight years of experience in streamlining a complex supply chain for sourcing and processing textiles in India. From 2016 to 2022, Fabriclore created India’s largest modern retail brand with a catalog of 10,000 SKUs developed by over 550 suppliers across India. Combined with its rich experience in fabric sourcing, customization and processing, the company has geared up to enter 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,” said Ankur Pahwa, Managing Partner at PeerCapital. “Armed with these, team Fabriclore is best-positioned to innovate a dormant space with new-age tech enablement and create a catalyzing impact on the fabric and D2C industry.”
Within 12 months of its B2B pivot, Fabriclore says it has onboarded more than 200 private labels, primarily from India and the Middle East. The company operates a 1,000-square-meter warehouse with its own quality control unit and has also partnered with internationally recognized testing laboratories to provide certificates for specific tests required by customers.
To make fabric sourcing easier for fashion brands, Fabriclore has set up India’s first Fabric Experience Studio in Jaipur. The studio offers an extensive portfolio of fabrics from over 50 mills for touch and feel. The Fabric Experience Studio also offers a print catalog, design customization, and printed and dyed samples, all in one place, to help fashion brands make a quick decision on fabric sourcing and reduce time to market. Fabriclore plans to open more such Fabric Experience Studios in Tier A cities in India and the United Arab Emirates.
With the new funding, Fabriclore plans to expand its presence in key markets such as India, the Middle East, Europe and the US. The company will invest in technology to further streamline its operations, improve the customer experience, and scale up in international markets.
“Unlike China, the lack of organized textile sourcing and processing has limited the exposure of Indian textiles in global markets,” commented Raju Shroff, Managing Director of Regal Group. “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 alliances with leading fabric mills across India and has 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 aims to triple its MRR within a year and supply 5,000,000 meters of fabric annually to fashion brands worldwide.
“Our key differentiator is streamlining complex multi-stage fabric processing that includes dyeing, screen printing, digital printing, and block printing techniques,” added Vijay Sharma, CEO of Fabriclore. “By implementing tech-enabled processes, the company has substantially reduced delays by 20 percent and customer rejections by 33 percent, setting a new benchmark in the industry. On the other end 50 to 60 percent 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.”
