In a strategic move, Donear Suitings, a prominent player in the textile industry, is gearing up to invest a substantial sum of Rs. 30 crore into clothing retailer, French Crown. This partnership will witness the birth of an upscale suiting brand known as ‘The Suited Saint’, marking their foray into the luxury fashion segment. The collaboration aims to tap into international markets, offering an array of products at a premium price point of US $ 500 and above.
The official launch of the brand is scheduled for mid-September this year. Founder and CEO of French Crown, Ilesh Ghewariya, highlighted the significance of this collaboration in an interview with ETRetail. He revealed that Donear’s investment will be disbursed over the course of the next 2-3 years, demonstrating a long-term commitment to the venture. Notably, Donear will also facilitate the manufacturing process by providing fabric on a 90-day credit basis.
To realise the vision of the new luxury label, French Crown is in the process of establishing a cutting-edge manufacturing facility and a state-of-the-art research and development unit in the city of Surat.
Notably, the United States contributes to a substantial 60 per cent of its international sales, while the remaining 40 per cent is driven by key markets such as the UK, Canada, Australia, and the Middle East.
