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Ethnic wear brand Fashor raises $5 million funding from Blume Ventures

Economic Times

Economic Times · 12m ago

Indian ethnic wear brand Fashor has secured $5 million in funding from Blume Ventures. The funds will be used for expansion, branding, and enhancing the supply chain. Fashor offers its products through its website, app, and various fashion marketplaces. The startup plans to open more than 100 exclusive brand stores in the coming years, with a focus on Tier II cities. The branded Indian ethnic wear market is valued at around Rs 30,000-35,000 crore and is growing at a rate of 20-25% annually. This investment reflects the growing interest in ethnic wear brands catering to the Gen Z demographic.

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Libas raises $18 Mn in maiden external round from ICICI Venture’s fund

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Economic Times · 1y ago

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VCCircle · 1y ago

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ICICI Venture bets on fast fashion brand Libas

VCCircle

VCCircle · 1y ago

ICICI Venture, the private equity arm of ICICI Bank, has invested Rs 150 crore ($18 million) in fast fashion brand Libas. The funding will be used to strengthen Libas' omni-channel presence and expand its brand and retail outlets across key cities. Libas, which started in 1985 and rebranded as a direct-to-consumer fast fashion brand in 2014, offers ethnic wear and fusion silhouettes for modern Indian women. The company generated over Rs 500 crore in revenue during FY24 and has a presence on e-commerce platforms like Flipkart and Myntra.

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