Second such hub to be identified as focus in India after Jaipur
New Delhi, December 28, 2021 – Fashinza, a B2B marketplace and manufacturing service provider that fixes apparel/fashion supply chain challenges using a tech-enabled platform, today announced that it has identified Ludhiana as a key sourcing hub in India after Jaipur, Tirupur & NCR. Recently, they organized a ‘Meet and Dine Gala’ where Fashinza’s senior executives Rajesh Meena, Laiqur Rahman, and Naresh Dhaka met and interacted with owners of 100 plus reputed manufacturing players from Ludhiana.
Speaking on the event, Rajesh Meena, Head of supply & operations, Fashinza, said, “Ludhiana is one of the largest manufacturing hubs for the activewear/knitwear category in India, boasting of some of the finest and largest players in this space. It is no surprise that when we thought of aggressively expanding our supplier network in India, Ludhiana became a clear and preferred choice for us to focus on. The success of the event and the overwhelming response we received proves that we made the right choice. In the near future, our goal is to sign up 100 leading suppliers from the Ludhiana region into the network. This will make Ludhiana the key focus sourcing hub in India for Fashinza.”
Benefits to suppliers
The event saw a turnout of about 100 reputed Ludhiana manufacturers. The attendees appeared to relish the first ever event in the industry where consistent business, operations management, and financial support were offered to them at once. There was much excitement among the suppliers to onboard and work with Fashinza. The B2B platform witnessed 30 plus supplier registrations on the event day itself. Over the past year, Fashinza has been helping manufacturers by bringing global deals to their doorsteps. They’ve enabled suppliers of different scales to reach full capacity utilization. They also offer a range of financial assistance such as upfront payment and working capital to manufacturers. The perks they bring to the table have largely popularized them within the manufacturing community, helping them to create a network of 400 plus suppliers across India, Bangladesh, China, and Turkey within a span of 2 years.
Founded in 2020 by Abhishek Sharma and Pawan Gupta and joined by Jamil Ahmad as one of the co-founders, Fashinza is a global B2B manufacturing marketplace with a mission to create sustainable and futuristic supply chains for fashion brands while improving the lives of millions of workers. The start-up provides absolute transparency in production through regular updates for brands on their AI-based platform. They handle everything from design to delivery for their partner brands while providing lowest MOQs in the industry and fast turnarounds. As of January 2021, they have 400 plus ethical partner factories across India, Bangladesh, China, and Turkey. Fashinza works with brands across 10 countries like Forever21, Noon.com, Centrix Brands, Amaro, Clovia, and Bewakoof.com. Recently, Fashinza raised $20 million in a mix of equity and debt as part of Series A funding. The round was co-led by marquee existing investors Accel Partners and Elevation Capital along with Abu Dhabi’s DisruptAD, Stride Ventures, Alteria Capital, and Tradecred. The round also saw participation from Anand S Ahuja (MD, Shahi Exports & Founder, Bhaane) and actor Sonam Kapoor Ahuja, both of whom are vocal supporters of sustainable fashion.