The story of Fashinza is that of three friends, Abhishek Sharma, Pawan Gupta and Jamil Ahmad, who embarked on a retail adventure in February 2020, to spread fair business practices and responsibility in the hospitality industry. clothing. Since success comes with attitude, Fashinza has quietly grown into the most sought-after B2B marketplace and real-time global supply chain for fashion brands and retailers.
Today, Fashinza has evolved into a global player with operations in the United States, Dubai, Bangladesh and India. In addition, the company records an almost multiplication of its turnover.
In a few months of activity, Fashinza has integrated around thirty Indian brands, which were sold on Flipkart, Myntra, etc. Later, the trio began to expand Fashinza’s market. In the first quarter of 2021, Fashinza made its international foray by entering the Dubai market. The company has focused on the Middle East market before entering the US and European markets by the end of FY2021. In the words of Sharma, “Today the US market is well established for us.”
Fashinza works with over 150 brands in three geographies. Besides the United States, the company plans to expand massively in the UK and European markets.
Fashinza charges its suppliers usage-based fees on each order, while providing value-added services such as logistics, fintech, and B2B payments to brands and manufacturers.
Sharma, who has worked with companies like Flipkart and Limeroad, is an expert in reducing costs by improving unit economics on the supply side. Fashinza is committed to leveraging unused capacity, while improving production efficiency through technology and data.
Under the strategic leadership of the trio, Fashinza raised USD 12.5 million in February 2020 as seed capital and an additional USD 12.5 million in January 2021. In May 2022, it raised a colossal sum of USD 100 million in Series B funding ($60 million in equity and $40 million in debt) co-led by Prosus Ventures and Westbridge, with participation from Accel, Elevation and ADQ at a $300 billion valuation .
The funds raised are used to strengthen its core activities such as refining the company’s supply chain technology, expanding into new territories, sourcing raw materials, among others.
The American Radar
Previously, the share of international markets was minimal – around 15-20%. However, it crossed 40% (United States and Middle East). Our plan is to collect at least 70% of revenue from international markets, i.e. 50% from the United States alone, 20% from the Middle East and Europe and the remaining 30% from India .
Our vision is to make Fashinza the number one player the world relies on for garment outsourcing to India, Sharma envisioned.
WINNER: Abhishek Sharma
Role: Co-founder and COO
Age: 35 years old
Sector: B2B Tech Retail