Fashor, the fusion-wear and ethnic wear brand backed by Blume Ventures has announced the opening of its newest stores across southern cities. Four new stores have come up at Bengaluru, Chennai and Coimbatore.
Fashor Luxe and Fashor are the two formats that the brand has recently launched to target discerning consumers.
While the Fashor Luxe store offers high-end and limited edition ethnic and fusion wear clothing with premium fabrics and intricate craftsmanship, Fashor offers affordable and high quality ethnic, fusion wear products.
Vikram Kankaria, Co-Founder & CEO of Fashor said, “Our journey is driven by a vision to democratize designer fashion and bring it closer to women across India.
With each new store, we are not just expanding our retail presence but also enhancing our customer experience by blending traditional craftsmanship with contemporary trends. Chennai, Coimbatore, and Bangalore are key markets with vibrant fashion cultures, and we are excited to deepen our connection with the women in these cities.
We believe that Fashor’s unique designs, inclusive size range, and affordable pricing will resonate strongly with our customers and empower them to express their individuality through fashion.”
Fashor Luxe has opened at the fledgling Commercial Street in Bangalore and at T. Nagar, the shopping hub in Chennai while Fashor stores have come up at RS Puram in Coimbatore and Kattupakkam, a popular suburb in Chennai.
Fashor’s expansion comes amidst its broader retail strategy, complementing a strong presence on its own website and App and on digital platforms such as Myntra, Ajio, Nykaa Fashion, Tata Cliq.
The brand is also present across top Multi-brand Outlets (MBOs) and Department store chains in India such as Shoppers Stop and Lifestyle.
Fashor aims to open 100 exclusive brand outlets (EBOs) by 2027. The company has till date raised USD 6.3 Mn backed by over 76 Angel Investors and Institutional Funds. The company had a revenue of INR 90 Cr. (USD 11.5 Mn) for FY 23-24.
Editor’s Note
A new wave of ethnic wear fashion brands is making a significant impact in the INR 1.20 lakh Cr pa women’s ethnic wear market in India
Backed with funding from investors, several new brands are springing up across the country, thanks to a large, addressable market.
Much of the market share that these individual brands are garnering are from large format stores (LFOs) and Multi-brand outlets and Department stores.
Thanks to low costs of production in the hinterlands of India, these categories offer 80-200% gross margins, when sourced directly from genuine, first-hand manufacturers in markets such as Gujarat, Rajasthan, etc.
The high margins for brands such as Fashor make it possible to offer a wide collection of inventory, through attractive standalone stores, while also attracting investments and valuations.
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