Handloom clothing brand Dressfolk has raised funding led by Eternal Capital, along with D2C founders Ghazal Alagh (Founder, Mamaearth) and Dhruv Koli (Founder, Boba Bhai), with participation from Nobody Ventures and Eagle Wings Ventures.
Additionally, 3 Peaks Ventures also joined the round along with existing investors All In Capital, Sidhant Keshwani (of Libas) and Vidur Kataria (of Master Chow).
“Dressfolk focuses on marrying design and comfort, which deeply resonates with our customers. Wearing authentic handlooms and craftsmanship is a matter of pride for the people and the newly raised funds will enable us to rapidly expand our offerings beyond sarees and build a broader portfolio of contemporary Indian wear,” Nitin Mehrotra, Dressfolk’s founder and CEO said.
While many new-age fashion brands focus on fast fashion trends. Dressfolk saw a gap in the market for Indian wear for people over 25 in the natural, handwoven fabrics space.
Besides its website, the brand has scaled its distribution through leading marketplaces such as Aza Fashions, Nykaa, and Myntra, while also hosting pop-ups across India.
“Our conviction in Dressfolk comes not only from their unique business model, which places Bharat and its artisanal heritage at the core, but also from their stellar team, led by Nitin, whose deep and contextual experience gives the company an edge over its peers,” said Dhruv Dhanraj Bahl, Managing Partner at Eternal Capital.
Having grown close to 200 per cent in FY24, the brand collaborates with a network of over 800 weavers and 120 artisans across six states.
Dressfolk aims to take Indian handloom global by expanding into international markets through a brand-new international website.
Over the past decade, a shift from ready-to-stitch clothing to ready-to-wear along with the entry of national players like Fa India, BIBA, W, AND, Global Desi, etc. has propelled the growth in branded apparel helped by a significant shift away from traditional sarees towards ethnic wear and western wear. In India, ethnic wear is the single biggest category in the women’s wear segment with a share of 71 per cent despite global fashion brands such as Zara, H&M and Uniqlo pushing westernised clothing in their market
