Biography of Vijay Sharma: Founder and CEO of Fabriclore- Entrepreneur
Biography of Vijay Sharma:
Fabriclore: Revolutionizing Fabric Sourcing for Fashion
Brands
Fabriclore is a tech-driven fabric sourcing platform based
in Jaipur, India, designed to simplify the fabric procurement process for
fashion brands. Founded by Vijay Sharma, Anupam D Arya, and Sandeep Sharma in
2016, Fabriclore aims to provide a seamless and efficient solution to the
traditionally time-consuming and complex task of fabric sourcing. The platform
connects fashion brands with a wide range of curated fabrics, offering an
extensive selection that includes both traditional handloom textiles and modern,
trendy designs. This innovation seeks to streamline the fabric sourcing process
while providing high-quality materials to clients across India.
The Founders' Entrepreneurial Journey
Vijay Sharma, one of the co-founders of Fabriclore, brings a
wealth of experience to the venture. Before entering the fabric industry, he
worked in the oil and gas sector, where he successfully led Ozone Plan Design
Services, a multidisciplinary engineering firm. With a passion for
entrepreneurship, Vijay ventured into the fabric domain alongside his partners,
Anupam D Arya and Sandeep Sharma. Their combined expertise in business and
design allows them to offer an innovative platform that caters to the needs of
fashion brands, big and small.
A Unique Business Model
The founders of Fabriclore identified a significant gap in
the fabric sourcing industry, especially for fashion brands that faced
challenges in outsourcing quality fabrics. To address this problem, they
created Fabriclore, an online platform that connects designers with
high-quality fabrics. Their goal is to simplify the sourcing process, offering
a one-stop solution where designers can access a wide variety of fabrics at
competitive prices, without the long delays and logistical challenges typical
of traditional fabric sourcing.
Scaling Up Through Collaboration
Over the years, Fabriclore has established a strong network
of over 200 vendors. This collaboration has allowed the company to create a
robust production and design ecosystem, facilitating better sourcing and
quality control. Through these partnerships, Fabriclore has been able to serve
over 250 customers, providing them with a range of fabrics that cater to
different fashion requirements. The company's extensive vendor network helps it
source materials directly from the masters of traditional crafts, ensuring
authenticity and high standards in every fabric it offers.
Focus on Customization and Design
One of the key features of Fabriclore's platform is its
emphasis on customization. The company works closely with modern designers to
create unique fabric designs that cater to the evolving needs of the fashion
industry. Whether it's for clothing or home furnishings, Fabriclore aims to
inspire creativity in the fashion world by offering a diverse range of fabrics,
including boho and fusion styles. This focus on customization has allowed
Fabriclore to carve a niche for itself, appealing to designers who seek
distinctive and high-quality fabrics for their collections.
Building the Brand's Reputation
Fabriclore's success can be attributed to its commitment to
quality and customer satisfaction. The brand pays meticulous attention to every
fabric it curates, ensuring that each piece meets the highest standards of
craftsmanship. By sourcing directly from traditional fabric masters, the
company can offer fabrics that reflect the rich heritage of Indian textiles.
Additionally, Fabriclore has built a strong online presence, making it easier
for fashion brands to browse and purchase fabrics from the comfort of their own
offices.
Biography of Vijay Sharma: Founder and CEO of Fabriclore- Entrepreneur/ fabrics/age/net worth/investor/startup/Fabriclore story/Vijay Sharma story
Pivoting to B2B: A Strategic Shift
In recent years, Fabriclore shifted its business model from
a B2C (business-to-consumer) approach to a B2B (business-to-business) model.
This strategic pivot was driven by the founders’ realization that the demand
for high-quality, curated fabrics was greater among fashion brands and
designers than individual consumers. By focusing on the B2B market, Fabriclore
was able to expand its reach and offer its services to a larger customer base,
including established brands and emerging designers looking for unique fabrics
for their collections.
Challenges and Setbacks
Despite the innovation and growth, Fabriclore faced
challenges along the way. The company struggled with consistent profitability
and faced losses of around INR 14 lakhs every month, despite a revenue of INR
40 lakhs. These financial challenges made it difficult for the company to
attract investment from potential backers. Additionally, the business was
burdened with debt, which further complicated its efforts to scale. These
difficulties were discussed openly during the company's appearance on Shark Tank
India, where the founders faced tough questions about their financial health.
Shark Tank Pitch: A Missed Opportunity
In a bid to secure investment, Fabriclore’s founders pitched
their business on Shark Tank India during the third season of the show. They
asked for INR 68.7 lakhs in exchange for 1% equity, valuing their company at
INR 68.7 crores. While the Sharks were impressed by the potential of the
platform, they expressed concerns about the company's financial performance and
the high valuation. Although the founders were able to showcase their
innovative business model and vision, they ultimately did not secure a deal
from any of the investors.
Learning from the Sharks' Feedback
While Fabriclore did not receive an investment from the
Sharks, they were able to gain valuable insights and feedback from the
investors. The Sharks questioned the founders about their business model, the
pivot to B2B, and their plans for turning the business profitable. Despite the
tough feedback, the founders remained optimistic, taking the advice to heart
and planning to make adjustments to their approach moving forward. They were
encouraged to focus on improving their financial management and profitability
to strengthen their position in the market.
The Road Ahead for Fabriclore
In the wake of their Shark Tank appearance, Fabriclore has
continued to focus on expanding its vendor network and improving its product
offerings. The company remains committed to providing high-quality fabrics and
offering customized solutions to its B2B clients. With its unique blend of
traditional and modern textiles, Fabriclore aims to grow its presence in the
Indian market and beyond. The founders are hopeful that with a renewed focus on
profitability and cost control, Fabriclore will be able to scale successfully
in the future.
Fabriclore's Vision for the Future
The founders of Fabriclore are passionate about their
mission to bridge the gap between traditional Indian fabrics and modern design.
Their vision is to create a global platform for fabric sourcing that celebrates
the rich textile heritage of India while embracing contemporary fashion trends.
By continuing to build strong relationships with fabric vendors and designers,
Fabriclore hopes to become a leading name in the fabric sourcing industry. The
company is also focused on expanding its reach to international markets, where
there is growing demand for high-quality Indian fabrics.
Fabriclore's Impact on the Indian Fabric Industry
Fabriclore has played a significant role in reviving
traditional handloom crafts and promoting them to a wider audience. By
providing a platform for these unique fabrics, the company has helped preserve
India’s rich textile heritage while also supporting local artisans.
Additionally, Fabriclore’s focus on customization has enabled designers to
experiment with new styles and create innovative fashion pieces. This
combination of tradition and innovation has positioned Fabriclore as a key
player in the Indian fabric industry, contributing to its growth and
diversification.
Looking Forward with Optimism
Despite the challenges, Fabriclore’s founders remain
optimistic about the future. They are determined to continue building the brand
and refining their business model to make it more sustainable and profitable.
With a focus on innovation, quality, and customer satisfaction, Fabriclore aims
to overcome its current obstacles and emerge as a leading force in the fabric
sourcing industry. The lessons learned from their Shark Tank experience will
serve as valuable tools as they work towards achieving their long-term goals.
A timeline of Fabriclore’s journey:
2016: Founded by Vijay Sharma, Anupam D Arya, and Sandeep
Sharma in Jaipur, India, to simplify fabric sourcing.
2016-2020: Built a network of over 200 vendors and served
250+ customers, focusing on high-quality curated fabrics.
2021: Shifted to a B2B model, targeting fashion brands and
designers instead of individual consumers.
2023: Appeared on Shark Tank India (Season 3) asking for INR
68.7 lakhs for 1% equity but did not secure an investment.
Post-2023: Focused on profitability, expanding vendor
network, and strengthening its B2B offerings.
2024: Plans to scale, focus on sustainability, and expand
into international markets.