Fashinza is a B2B fashion supply chain startup that offers a one-stop solution from design to delivery for brands. Started in 2020, the platform simplifies the ethical sourcing and production processes for fashion brands based on an exclusive working model with suppliers. The technology-first platform empowers brands with a greater degree of reliability, transparency, speed, and agility for an exceptional customer experience. CEO and Co-Founder of Fashionza, Pawan Gupta, shares some of his thoughts about the company with Apparel Views Editor Arvind Kumar.
Tell us about your journey?
Our journey began in February 2020, just before the pandemic and lockdowns struck. Our seed round of funding came from Elevation and Accel who invested in us even before we had launched. In July 2020, we officially launched our operations, welcomed our first customers and established a strong network of suppliers beginning with Jaipur and Tiruppur. Since then, our growth trajectory has been remarkable.
Today, we proudly serve over 100 esteemed customers from all over the world, collaborating with a vast network of more than 300 manufacturing facilities in India and Bangladesh. We also have a physical presence in 5 countries now.
Despite the challenges we faced, our determination, resilience, and unwavering focus on customer satisfaction have been the driving forces behind our success. As we continue on our journey, we remain dedicated to reshaping the fashion industry, making it more sustainable, efficient, and fast. With each milestone achieved, we are grateful for the opportunities we have been given and excited for what lies ahead.
What was your Eureka moment that led to the inception of Fashinza?
The inception of Fashinza was sparked by a Eureka moment, recognizing the need for technology-driven intervention in the global apparel supply chain. We observed the inefficiencies and communication gaps that hindered supply chain management, both domestically and internationally. However, our perspective shifted during a transformative visit to manufacturing factories in Jaipur. Witnessing the dedication of labor and the intricate craftsmanship, we realized that the underlying issue was a data-related challenge. The lack of visibility and timely communication impacted manufacturers and customers alike. Motivated by this realization, we established Fashinza, a platform that leverages technology and data to address these global challenges head-on. By bridging the gap and empowering the fashion industry with innovative solutions, we aim to revolutionize supply chain management and drive positive change.
How is Fashinza disrupting the conventional sourcing and manufacturing model?
Fashinza is disrupting the conventional sourcing and manufacturing model by keeping speed and design at the core. In an era where the fashion industry is rapidly evolving, we empower brands and suppliers to adapt and change according to the ever changing customer needs. Our company serves as a global fashion supply chain solution, offering end-to-end services from design to delivery in 4-12 weeks.
We stay ahead of the trends by scouting both domestic and international markets, continuously scraping online trends, and curating forecasted design catalogs to optimize sell-through rates for our clients.
At the core of our operations is a strong focus on AI-led design and fast supply chain. By leveraging advanced technology, we digitize supply chain management, provide real-time tracking of throughput and quality on the factory floor, and enable instant alerts through a comprehensive dashboard. This level of visibility allows us to closely monitor and document each step of the production process, enabling our brands to minimize overproduction and textile waste.
With our design and technology-driven interventions, we are addressing industry challenges in a transparent, sustainable way. Fashinza is reshaping the fashion landscape, making it more adaptable, faster, and future-proof.
Elaborate on the present market scenario. What kind of business opportunities do you see in this segment?
The current market can be described as “soft,” but we anticipate significant growth as the global market adjusts to the new post-pandemic world. Despite the increased recognition and concern for the environment, there is also a growing interest in fast fashion offerings. People desire novelty and want to enhance their appearance after experiencing a two-year setback due to Covid-19. At first glance, these two trends may seem contradictory, but at Fashinza, we perceive the potential to combine them through the use of technology.
What different aspects is Fashinza bringing to the table that makes it stand apart from its counterparts?
We closely collaborate with brands, enabling them to make purchases closer to their season or in-store dates while minimizing the quantity through our proprietary fast fashion module. This approach allows us to achieve rapid lead times from concept to store, surpassing typical industry lead times by up to 25%.
Besides this, by using predictive analytics to process data, Fashinza also delivers personalized marketing messages to customers. Moreover, Fashinza integrates AI technologies to predict demand patterns and identify emerging fashion trends. By leveraging data-driven production methods, we assist brands in optimizing inventory management and making informed business decisions.
These methodologies help Fashinza stay ahead of the curve and establish a stronghold in the industry.
Could you shed some light on your tie-ups and partnerships so far? Are there any new agreements that are in the pipeline?
We recently partnered with Inditex, LC Waikiki, Boohoo. Furthermore, we are expanding in Australia & have recently partnered with two large retailers there.
There is still a significant difference in fashion trends when it comes to India and other nations. How does Fashinza aim to bridge this gap?
We have observed that fashion preferences vary across different regions, influenced by lifestyles, cultures, seasons, and ethnicities. As a result, we have cultivated a strong understanding of analyzing trends that are most suitable for each specific geography. Our in-house proprietary AI trend analytics allows us to fine-tune these trends further and deliver them at the right moment.
Europe, for instance, is renowned as the epicenter of trendsetting. We diligently track and analyze the best trends from catwalks to boutiques, adapting and customizing them to cater to the Indian market. This enables us to offer domestic brands the latest trends, straight from the catwalks.
Fashinza is a fashion-tech startup. So how are you integrating technology into your business? What all technologies are being used?
Technology has been an integral part of our operations. Fashinza believes that people and businesses in the fashion and lifestyle retail industry can deal with complex challenges efficiently and smoothly with the appropriate data and technology. Hence, we have been actively leveraging technology at every step of our business including supply chain management and design development.
We at Fashinza use predictive analytics to process the data to deliver personalized marketing messages to customers including recommendations closer to their order completions. We also use Google AutoML, natural language processing (NLP) techniques to analyze the information accompanying the clothing images, and computer vision algorithms to extract characteristics from the photos and enrich their meta-data.
Furthermore, we are also deploying AI to predict demand patterns and emerging fashion trends. Such data-driven production helps brands with inventory management and improving business impact decisions.
What are your expansion plans for the coming 3-5 years?
We are investing heavily in expanding our supply chains in India, and Bangladesh and would add Vietnam or Turkey in the next 3-5 years. Given their technical wear capabilities and proximity to key markets, they would be amazing additions to our current supply chains.
In addition, we are expanding heavily to increase our customer base in the US and Europe. We are already present there and will stay focused on these markets for the next 5 years while we onboard a significant number of key retailers and brands. Our design offering is already proving to be a hit and we are now investing in AI to make designing faster, more efficient, and more relevant to the customers’ demands.