Apparel Online India Magazine March 1st Issue 2019 | Page 80

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J AY P O R E
ounded in 2012 by Puneet
Chawla and Shilpa Sharma
to celebrate ethnic, ‘Made in India’
handloom and handicrafts, Jaypore
has come a long way. Giving a tough
competition to established brands
like Fabindia, the start-up initially
started as an online retailer but now
has a presence in offline stores too in
major cities. The online store works
on a curated marketplace model
sourcing apparel, jewellery, lifestyle
accessories and home decor from
about 500 vendors. Jaypore has raised
a total of Rs. 75 crore in funding over
3 rounds so far. By 2020-end, the
brand is planning to open 10 stores in
top cities, metros and mini-metros. It
has also earmarked Rs. 10 crore for
its online expansion, which will be
done through internal accruals and
raising money. The brand is backed
by impact investment firm Aavishkaar of the Aavishkaar-intellecap Group,
along with Haresh Chawla, partner
at private equity firm True North and
TableHero Founder Deap Ubhi.
premium and their prices range from
Rs. 1,700 to Rs. 3,500, which narrows
down the target audience for the
company. FableStreet doesn’t keep inventory. Initially, the premium-
workwear brand bootstrapped its
first collection with Rs. 40-50 lakh
and raised an undisclosed amount
through seed funding from Fireside
Ventures Managing Director Kanwaljit
Singh. Fashion designer and Founding
member NIFT Harmeet Bajaj, Senior
Director of Unilever Pameela P,
Fusiontech Ventures and other angel
investors also participated in the
process. The company has already
reached operational profitability and
is investing in growth. A portion of this
growth will include piloting a concept
store called FS Studio, which will be
an offline touch-and-feel experience
centre for its customers.
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FA B L E
STREET
ableStreet was started with
the concept to give women
formalwear a perfect fit, stylish look
and longevity. Seeing a dearth of the
same, the Founder and CEO Ayushi
Gudwani took this as an opportunity
to start the brand in 2016, where
her team physically measured over
1,000 women to achieve a perfect
fit for the products. The made-to-
order brand follows various steps,
which include designing, identifying
the fabric to sourcing, production
and sizing, before handing over the
finished product to its customer.
The tailor-made brand is finding its
market mostly in Tier-1 and a few
in Tier-2 cities. The products are
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KORRA
JEANS
ounded by Shyam Sukhramani in
August 2013, the Korra Jeans label
is built under Goodpeople Clothing
Company. Delhi-based start-up Korra
Jeans is sewn by a single tailor, and is
made from naturally dyed indigo selvedge
denim. In September 2015, it secured US
$ 300K in an angel funding round led by
Asha Jadeja Motwani, Founder of Dot
Edu Ventures and the Motwani Jadeja
Foundation and few other undisclosed
investors. All its jeans are made from
the naturally dyed indigo selvedge
denim, organic cotton threads, custom-
made rivets/buttons, zippers made of a
combination of recycled materials and
brass buttons on old equipment.
80 Apparel Online India | MARCH 1-15, 2019 | www.apparelresources.com