Rajshree Upadhyaya | Jaipur | Business Remedies | In the textile hub of Surat, Gujarat, brothers Bhavdip and Ilesh Ghevariya set out to redefine the fashion industry in India. In 2017, they founded French Crown, a brand that blends French elegance with Indian craftsmanship. Their goal was clear: to offer premium, stylish apparel for the modern Indian man at affordable prices.
French Crown stood out by breaking traditional industry norms. Instead of following the seasonal model many brands used, the company introduced over 200 new designs every week. This high turnover was made possible through direct relationships with textile mills and a streamlined supply chain. Their fast production cycle ensured fresh offerings while minimizing deadstock—a common issue in fashion. This approach aligned with their commitment to sustainability, producing only what was in demand.
By 2022, French Crown had expanded to over 90 countries, with more than 60% of its revenue coming from international markets. The brand became a global player, offering a wide range of products, from formal suits to ethnic wear, all crafted with high-quality materials. This combination of style, quality, and affordability resonated with customers worldwide.
In February 2022, Bhavdip and Ilesh pitched French Crown on Shark Tank India, a show where entrepreneurs seek investments. Out of over 23,000 applicants, French Crown was one of the four chosen to present. Seeking ₹1.5 crore for a 0.33% stake at a valuation of ₹454.55 crore, the brothers highlighted the brand’s impressive growth, international presence, and sustainability efforts. However, the sharks were skeptical about the valuation and scalability, deciding not to invest. Despite the setback, the exposure and feedback provided valuable insights that the brothers used to refine their strategy.
Undeterred, French Crown continued to thrive. In 2023, it secured a ₹30 crore investment from Donear Suiting to boost expansion. The funds were directed toward product innovation and opening new offline stores, broadening their market presence beyond digital platforms. This collaboration also marked the launch of “The Suited Saint,” a luxury suiting line targeting high-end customers, with prices above USD 500. This new venture also included a manufacturing facility and R&D unit in Surat, marking French Crown’s entry into the luxury market while maintaining its focus on quality and innovation.
French Crown’s journey embodies resilience and adaptability. From its humble beginnings to becoming an internationally recognized brand, the company has shown that challenges—like tough valuations or market skepticism—can propel growth. The brand’s success goes beyond revenue, with a focus on innovation, sustainability, and staying ahead of fashion trends.
By 2024, French Crown’s financials reflected its steady growth. With an annual revenue of INR 72 crore and a net margin of 20%, the brand has solidified its place in India’s fast-fashion menswear market. Multiple rounds of funding, including INR 8.6 crore from Velocity.in, reinforced the brand’s financial strength. Moreover, French Crown’s international presence continued to expand, with over 60% of its revenue coming from abroad.
Although the Shark Tank pitch didn’t lead to an immediate investment, it provided French Crown with invaluable exposure. The brand has continued to flourish and aims to become India’s first truly global fashion brand. The partnership with actor Emraan Hashmi as the brand ambassador has further enhanced its image as a premium, stylish, and sustainable label. With a blend of creativity, strategy, and resilience, French Crown’s future in both the Indian and global markets looks bright.
Written & Edited By:
Rajshree Upadhyaya
