PC: Textile Insight
Dressfolk, a handloom clothing brand, has raised an undisclosed amount of funding in a recent round led by Eternal Capital. Notable investors participating in the round include Ghazal Alagh, Co-Founder of Mamaearth, and Dhruv Koli, Founder of Boba Bhai. Nobody Ventures, Eagle Wings Ventures, and 3 Peaks Ventures also participated, along with existing investors such as All In Capital, Sidhant Keshwani (of Libas), and Vidur Kataria (of Master Chow).
About Dressfolk
Dressfolk is the brand for those wishing to have their Indian wear modernized with time and created into timeless and classic designs out of natural, handwoven fabrics. The brand aims to fill this gap in the market for a range of quality Indian clothing created for an over-25-year age group. While most contemporary brands of fashion emphasize fast fashion, Dressfolk focuses more on craftsmanship, which is something that has resonated the most in its customer base.
Nitin Mehrotra, the founder and CEO of Dressfolk, said that the newly raised funds will enable the brand to expand its offerings beyond sarees and develop a broader portfolio of contemporary Indian wear. He said that wearing authentic handlooms and craftsmanship is a matter of pride for the people.
Growth and Distribution Strategy
Dressfolk has scaled its distribution channels quite well. The brand has its own website, and it has partnered with leading marketplaces such as Aza Fashions, Nykaa, and Myntra. Dressfolk has also been actively hosting pop-up events across India to enhance its visibility and engage directly with customers.
The brand reported impressive growth, claiming to have achieved nearly 200% growth in FY24, with an average order value (AOV) exceeding ₹7,000. This growth trajectory highlights the increasing demand for quality handloom products and the effectiveness of Dressfolk’s marketing strategies.
Vision for the Future
With the new funding, Dressfolk will take Indian handloom global with an international website. The brand is committed to empowering local weavers and artisans, collaborating with over 800 weavers and 120 artisans across six states. It supports traditional craftsmanship and livelihoods of many families involved in the handloom industry.
Dhruv Dhanraj Bahl, the Managing Partner at Eternal Capital, feels confident about Dressfolk’s unique business model which places India’s artisanal heritage right at its center. He believes that a stellar team like this, led by Nitin Mehrotra, gives it an edge in the marketplace.
In conclusion, Dressfolk’s latest funding round is a significant milestone in its journey to redefine Indian wear. With a focus on quality, craftsmanship, and sustainability, the brand is well-positioned to capture a larger share of the market while promoting the rich heritage of Indian textiles. This new chapter will surely leave an indelible mark on the fashion industry.