By-Vikram Kankaria, Co-Founder & CEO, Fashor
As we close the curtain on 2024, it’s inspiring to look back at what has been an extraordinary year for Fashor and the fashion industry as a whole. This year was marked by rapid evolution in consumer behavior, driven by technology, sustainability, and a deeper appreciation for inclusivity in fashion.
Key Highlights and Challenges of 2024
2024 has been a milestone year for Fashor. With over 10 lakh loyal customers, we’ve grown not just in numbers but also in the hearts of Indian women who resonate with our ethos of making affordable, designer ethnic wear accessible to all. The introduction of Sara Ali Khan as our first brand ambassador through the “Dil Se Indian” campaign has elevated our brand visibility, aligning perfectly with our celebration of tradition and modernity.
This year, we secured $5 million in funding from Blume Ventures, which has set the stage for our next phase of omni-channel expansion. While expanding our digital presence, we’ve also embraced offline retail with plans to open 100 exclusive brand outlets (EBOs) in the coming years. However, the path hasn’t been without challenges. Rising costs in raw materials and supply chain inefficiencies have tested our ability to maintain affordability while delivering exceptional quality. But through strategic planning and a relentless focus on customer satisfaction, we’ve navigated these hurdles successfully.
Trends That Shaped 2024
Several exciting trends have redefined the fashion landscape this year:
1. Rise of Regional Fashion: Indian consumers are embracing the richness of local craftsmanship. Ethnic wear has gained significant traction, with Tier 2 and Tier 3 cities driving nearly 60% of fashion retail growth in India. Fashor’s focus on ethnic and fusion styles has placed us at the forefront of this movement.
2. Inclusivity in Sizing and Styles: With women increasingly seeking fashion that celebrates diversity, inclusivity is no longer an option—it’s a necessity. At Fashor, offering sizes from S to 5XL has helped us cater to every body type, empowering women to feel confident and stylish.
3. Fast Yet Sustainable Fashion: Consumers are becoming more eco-conscious, prompting brands to innovate in sustainable manufacturing practices. While we launch over 500 new styles every month, we are also exploring eco-friendly fabric options and production methods to align with this shift.
4. Digital-First Approach with Omni-Channel Growth: With online fashion sales expected to grow by 35% annually, brands must maintain a strong digital footprint. Yet, the resurgence of offline retail proves that Indian shoppers enjoy touchpoints that bridge physical and digital experiences. This is where our EBOs and presence in retail giants like Shoppers Stop and Lifestyle have strengthened our position.
Vision for 2025
Looking ahead, 2025 promises to be a transformative year for the fashion industry, and we are poised to lead the charge. Here’s what excites me most:
– Deeper Customer Connections Through Technology: AI and machine learning will play an even greater role in offering personalized shopping experiences. From tailored recommendations to virtual try-ons, we aim to make fashion more intuitive and enjoyable for our customers.
– Omni-Channel Excellence: While our online channels will remain strong growth drivers, the opening of Fashor’s EBOs across India will enable us to create a seamless shopping experience, offering the best of both worlds to our customers.
– Sustainability as a Core Value: Fashion cannot thrive without responsibility. In 2025, we aim to introduce eco-friendly collections while optimizing production to minimize waste and reduce environmental impact.
– Expansion Beyond Borders: We are soon launching a global website to cater to the growing demand internationally. We have customers across the US, UK, Dubai, Malaysia
Personal Reflection and Gratitude
Fashor began as a dream to redefine ethnic fashion in India, and today, that dream feels more tangible than ever. I am proud of how far we’ve come, but I’m equally excited about the road ahead. At the heart of Fashor is our belief in celebrating every woman’s individuality and helping her embrace her unique style. This belief will continue to guide us as we evolve.
I am deeply grateful to our incredible team, our loyal customers, and our partners for making 2024 a landmark year. As we step into 2025, my focus remains on fostering innovation, promoting inclusivity, and staying true to our mission of making fashion accessible, empowering, and joyful for every woman.
Here’s to a new year filled with fresh opportunities, bold milestones, and endless inspiration!