India’s fastest growing B2B apparel manufacturing company, Fashinza has announced a strategic partnership with Mumbai-based alternative credit platform, BlackSoil Capital by signing a definitive agreement. The association will help to finance small manufacturers, expedite the manufacturing process, and help balance the global demand and supply. Through this partnership, both the companies will empower local manufacturers to work directly with the biggest fashion brands, both domestic and international, and deliver world-class solutions.
The apparel industry, in its current state, has several brands and manufacturers operating at various economies of scale. A major challenge for local manufacturers is that they lack the requisite cash flow to fulfil demands from giant global brands. Furthermore, working capital requirements for manufacturers have increased because of COVID-19. This has slowed down the global supply chain and caused many businesses to shut doors.
As a part of their deal with BlackSoil, Fashinza is helping to solve the prevailing industry challenges by finding new opportunities for manufacturers to capitalise on, in essence, Fashinza will provide a one-stop solution and streamlined experience to fashion brands by connecting their demand to MSME manufacturers while handling end-to-end production from design to delivery. On the other hand, BlackSoil has invested $2.7 million to further support the company’s high growth and their potential to scale demand.
In a statement to the press, BlackSoil co-founder Ankur Bansal expressed his support for Fashinza. In his words, “Fashinza with its services will play a key role in the apparel industry transition to being tech-driven and more sophisticated by solving the underlying structural gaps and issues in the ecosystem. We are pleased to have partnered with a company which is disrupting and streamlining a highly unorganised and fragmented sector.”
In a separate statement to the press, Fashinza co-founder Abhishek Sharma expressed his gratitude to BlackSoil Capital and hoped to continue working with the Mumbai-based company. Sharma also expressed optimism in his company’s growth trajectory and reinstated their goal of leveraging the local manufacturers, “The potential of local manufacturers in countries like India and Bangladesh remain unrealized to a great extent owing to financial constraints. With the funds provided by BlackSoil, we’ll not only attract and retain business with such suppliers, but also elevate them to the position of global players.”
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
New Delhi, October 3, India- Philips India announces an exciting co
Jaipur, 18 April: Students of Jaipur have recently shown their remarkable achievement in the UPSC Civil Services Examination-
· Technopark-based Lifology holds conversation on IER 2024
Thiru
The New MOTIV Mix™ Interface Simplifies Audio Workflow and Ensures Perfect Recordings, Every Time
<
Business / 18-04-2024
STUDENTS OF JAIPUR'S JAYSHREE PERIWAL HIGH SCHOOL BRING LAURELS TO SCHOOL IN UPSCBusiness / 18-04-2024
India Employment Report pitches for policy to promote jobsBusiness / 18-04-2024
The EMAK Festoon Silent Heroes Awards-24 Concludes at Le Méridien, KochiBusiness / 18-04-2024
Axis AMC elevates R Sivakumar to Head of Corporate StrategyBusiness / 18-04-2024
Celebrate Baby Massage Day with Johnson's Baby Oil: The Perfect Choice to help nourish your little one’s skin from day 1Pelikken © Copyright 2022, All Rights Reserved
