Craftsvilla, the ethnic clothing and jewellery store, which strives to become the Fabindia of the Internet, has received investments from its parent entity Singapore-based Sequoia Capital. The parent firm invested Rs 30 crore in the Mumbai-based holding company last year. More recently, Supera Pte invested another 17 crores in Craftsvilla. While it got Rs 10 crore in December, Rs 4 crore came in February this year and another Rs 3 crore came in later. Craftsvilla is expected to use the fresh funds to ramp up its line of new clothing and accessories brands. Since 2017, Craftsvilla launched several in-house labels including Anuswara, Avanya, and Jharokha.
Though the store had initially aimed to the become Etsy of Asia, it failed to capitivate demand in the sector. It therefore digressed to selling ethnic products. Craftsvilla competes with other online fashion retailers including Myntra, Limeroad, Voonik