Founders & their story

• Vijay Sharma
• Anupam D Arya
• Sandeep Sharma

Fabriclore, founded in March 2016, has transformed into a leading tech-enabled fabric sourcing platform catering to the needs of private labels in the fashion industry. With a focus on simplifying the sourcing process, they offer a wide variety of fabrics, printing and dyeing services, all with low minimum order quantities and competitive pricing. The platform boasts a network of over 200 vendors, fostering a robust production and design ecosystem.

Since pivoting to a B2B model in January 2023, they’ve witnessed significant growth, securing an investment commitment of 8 crores at a pre-money valuation of 56 crores. With a total of 12.2 crores raised, including a strategic decision to obtain a home loan of 1.1 crores in March 2023, they’ve sustained their operations and accelerated their expansion. Their customer base has rapidly expanded to 300 B2B clients, acquired between February 2023 and October 2023. Notably, 109 out of these 300 clients make bi-monthly purchases, demonstrating the loyalty and satisfaction with their offerings. Their average order value stands at 40,000, reflecting the substantial value they bring to their clients’ businesses.

In line with their commitment to enhancing customer experience, they’ve established a Fabriclore Experience Studio in Jaipur. This physical presence has proven highly effective, boasting a remarkable 90% conversion rate. Their clientele primarily comprises independent private labels, with multi-brand retailers contributing to 30% of their sales. With a swift turnaround time of 2-3 weeks, they ensure timely delivery without compromising on quality or variety. Fabriclore continues to innovate and streamline the fabric sourcing journey, empowering fashion brands to focus on their creative vision while they handle the logistics with efficiency and reliability.

About the company

Since its inception in 2016, Fabriclore has been revolutionizing the Indian textile industry, setting new standards with each stride. What began as a daring venture by three colleagues, devoid of any prior experience in the realm of fashion, evolved into an exhilarating journey of exploration and innovation. Their purpose was unequivocal from the outset: to ascertain the feasibility of selling fabrics online. Through relentless dedication and unwavering perseverance, they embarked on a three-year odyssey, culminating in the establishment of one of the most extensive portfolios of fabrics available on the internet. From fabric types to printing techniques, from designs to patterns, Fabriclore boasts an unparalleled array of choices, a testament to their commitment to excellence.

Their legion of over 3 lakh customers stands as a resounding endorsement of their success. However, it was in the year they shed their preconceived notions that the true essence of their achievement crystallized. As India’s pioneering digital-first fabric brand, they realized the intrinsic value they had unwittingly cultivated over the years. Their growth trajectory led them to unveil a sprawling 24,000-square-foot headquarters and warehouse, a testament to their expanding influence. At the heart of their operations lies the Experience Studio, a unique haven where enthusiasts can immerse themselves in a treasure trove of over 300 woven and knitted fabrics. Here, tailored mood boards, bespoke prints, and printed samples converge, offering visitors a comprehensive sensory experience unlike any other.

Fabriclore stands as a beacon of innovation, continually pushing the boundaries of possibility within the Indian textile landscape. Through their relentless pursuit of excellence and their unwavering commitment to customer satisfaction, they have firmly established themselves as pioneers in the digital textile realm, reshaping the industry one thread at a time.

Revenue

Before the pivot, Fabriclore operated at breakeven profitability. Their monthly burn rate stood at 50 lakhs. Despite this, they managed to secure booked orders totalling 85 lakhs, with monthly sales ranging between 40-50 lakhs. Their gross margin hovered between 20-22%. In FY 23-24 Q2, Fabriclore recorded sales of 1.3 crores, following a slightly higher figure of 1.7 crores in FY 23-24 Q1. However, there was a slight dip in sales in September 2023, amounting to 40 lakhs. To sustain operations and facilitate growth, Fabriclore took a loan ranging between 3.5-4 crores. This strategic financial decision has supported their expansion efforts and ensured continuity amidst market challenges.

Founders’ Ask 

68.7 lakhs for 1% equity at the valuation of Rs. 68.7 crores.

No Deal

Reasons for no deal

Azhar: The business is burning a lot, and the fundamentals are not strong enough.

Namita: The business is loss making even after diluting a lot of equity.

Peyush: The business dynamics did not appeal to him.

Amit: The company is working capital squeezed.

Anupam: There seems to be a difficult exit.