Online Fabric Store ‘Fabcurate’ eyes INR 20 CR Turnover for FY 2022-23
November 2022, New Delhi: India’s leading online fabric store – Fabcurate, announced a growth of 40% in the total revenue of the company (INR 16 Cr) for the financial year 2021-22. The company was incorporated in the year 2020 and recorded a turnover of INR 7 Cr in the very first year of its inception. For the current FY 2022-23, the company is eyeing to clock INR 20 Cr revenue with expected growth of around 30%.
Commenting on the growth stats, Satish Panchani, Director, Fabcurate Private Limited, said, “We exercise the highest level of customer orientation and this coupled with our laser-sharp focus on cost and quality. These have helped us to achieve exceptional growth in revenue and overall sales in such a short time. We are equally concerned about the overall well-being of our employees and this has helped us to attract customers not from within the country but from all across the globe.”
The policy framework related to the textile and apparel industry in India has become more open and supportive in the last couple of years, thereby leading to tremendous growth in the overall turnover of the industry. In FY 2021-22, the industry clocked its highest-ever turnover of $ 44.3 billion and with e-commerce fast catching the imagination of buyers, the industry is poised to achieve the next level of growth and profitability.
“We have been offering the best quality fabric to our target market at the most competitive pricing. We are also offering the facility of customization which makes us unique among the existing competitors. These USPs along with the highest level of customer-centricity have accelerated our growth to 15% which is doubled compared to the average growth of 7-8% recorded by the industry,” Satish said.
Satish further added that Fabcurate is planning to expand its presence in overseas markets and has already started devising strategies for the same. The company has also launched its clothing brand christened NEOFAA recently in the market. The brand offers novel designs and patterns influenced by an exquisite blend of traditional and contemporary styling. “We have shipped around 12,000 orders under the new clothing brand and offering the facility of customization to buyers,” Satish added, “we have also introduced designer blouses and sarees and getting extremely positive response from the target market.”
Fabcurate is also contributing to the overall economic development of the country by offering equal opportunities to craftsmen who are not able to showcase their talent due to a lack of resources. The company is working closely with these designers and helping them to gain access to resources for designing unique patterns for the target market.