VC fundraising for fashion & clothing companies
Fashion venture peaked through the DTC era of 2018-2021 and corrected hard as pure-play DTC unit economics became clearer. Capital still flows to brands with wholesale traction or category leadership, but valuations now sit on contribution margin after returns rather than top-line DTC growth.
The active investors are the consumer funds that survived the DTC reset - Forerunner, Lerer Hippeau, M13, L Catterton growth - alongside a few apparel specialists and the LVMH Luxury Ventures and Kering Ventures arms at the upper end. They read contribution after returns first and headline DTC growth second. Flow has direct relationships across this set and works each round through the partner who underwrites apparel.
Flow has experience running VC fundraising processes for fashion and clothing companies across contemporary apparel, accessories, footwear, denim, activewear and DTC-only labels. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"Fashion & clothing" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
Revenue
Gross margin
Contribution margin
Full-price sell-through
Markdown rate
Returns rate
AOV
Repeat purchase rate
Wholesale share
Days inventory outstanding
Advertising as % of revenue
LTV / CAC
Fashion & clothing valuations in May 2026
Public fashion & clothing comps trade at 1.1x EV/Revenue. Median revenue multiple across fashion & clothing VC rounds was 3.7x in the last 12 months.
1.1x
Median EV/Revenue as of May 2026 for public fashion & clothing companies
3.1x
LVMH is the highest valued public fashion & clothing company based on EV/Revenue (excluding outliers)
0.9x
Median EV/Revenue across fashion & clothing M&A deals in the last 12 months
3.7x
Median EV/Revenue across fashion & clothing VC rounds in the last 12 months
Key recent fashion & clothing VC rounds
$500M Series E raised by Quince was the largest fashion & clothing VC round completed in the last six months.
See all fashion & clothing VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Mar-26 | Quince |  | Quince is a San Francisco-headquartered direct-to-consumer retailer offering apparel, home essentials, and accessories made from premium materials like Mongolian cashmere, mulberry silk, and organic Turkish cotton. The company sells 100% cashmere sweaters for $50, leather bags under $100, and 400-thread-count sateen sheets with factory-direct pricing 80% below luxury retail. Quince sources from the same mills supplying Everlane and J.Crew and ships to customers in the United States, Canada, and Europe. Founded in 2018, it expanded into men's clothing, baby products, and kitchenware. | 8VCBaillie Gifford+7 | $500M | $4.5B | Series E | |
Apr-26 | Delvaux |  | Delvaux is a Brussels-headquartered luxury leather goods house crafting handbags, wallets, and accessories from premium leathers. Founded in 1829, it holds the distinction of Europe's oldest fine leather goods brand, with iconic designs like the Brillant and Tempête lines. Delvaux boutiques span Europe, Asia, and the Middle East, including locations in Paris, London, Tokyo, and Dubai. The company supplies high-end retailers such as Bergdorf Goodman and Lane Crawford. | Richemont | $117M | - | Undisclosed stage | |
Apr-26 | Allbirds | | Allbirds Inc is a lifestyle brand that innovates with naturally derived materials to make footwear and apparel products in a better way, while treading lighter on the planet. Its primary source of revenue is from sales of shoes and apparel products. The majority of the revenue is derived from United States. | - | $50M | - | Undisclosed stage | |
Jan-26 | Protege | | Protégé is a footwear brand offering comfortable high heels for women. The shoes combine style and ease for active lifestyles, available through protegefootwear.com. | Andreessen HorowitzBloomberg Beta+4 | $30M | - | Series A | |
Jan-26 | Escape Plan |  | Escape Plan is a New York-based travel accessories brand emphasizing design-forward functionality. Launched in 2019, it offers minimalist luggage, backpacks, and dopp kits crafted from recycled materials, available at Nordstrom and REI. The direct-to-consumer line features RFID-blocking wallets and compression packing cubes, shipping to 50 countries. Escape Plan collaborates with designers for limited-edition collections. | Fireside VenturesIndiGo Ventures+1 | $25M | - | Series A | |
Apr-26 | Agilitas | | Agilitas is a Bangalore-based sportswear and athleisure brand manufacturing performance apparel for running, yoga, and fitness activities. The company operates production facilities in India equipped with automated knitting and dyeing technologies alongside design labs in Bengaluru. It supplies products through online platforms and retail partners across India, emphasizing moisture-wicking fabrics and ergonomic fits developed via dedicated R&D centers. Agilitas distributes to domestic markets and exports to Southeast Asia. | Nexus Venture Partners | $22M | - | Undisclosed stage | |
Feb-26 | Showroom B2B | | - | Accion VenturesAlteria Capital+5 | $17M | - | Series A | |
Feb-26 | ZILO | | ZILO is a quick-commerce fashion retail platform that curates clothing and accessories from over 200 premium brands for seamless daily shopping. Based in India, it features outfit recommendations and wardrobe planners to match looks from morning to evening. The mobile-first service emphasizes fast delivery and personalized styling through algorithmic suggestions, targeting urban consumers seeking effortless fashion updates. ZILO partners with luxury labels for exclusive drops and operates via its app available on iOS and Android. | Abhishek BansalAlteria Capital+10 | $15M | - | Series A | |
Mar-26 | Bonkers Corner | | Bonkers Corner is a Mumbai-based online streetwear brand offering oversized apparel, hoodies, and pop culture collections entirely manufactured in India for men and women seeking unique urban styles. | Dhruv BhandariIndia SME Investments+3 | $15M | - | Series A | |
Dec-25 | Moxie Beauty | | Moxie Beauty is a Mumbai-based hair care brand offering certified organic shampoos, conditioners, and serums free from sulfates and parabens. Formulated with Ayurvedic herbs like amla and bhringraj, its range targets dandruff, hairfall, and color protection for Indian hair types. Launched in 2020, Moxie sells via Nykaa and Amazon India, with clinical tests showing 90-day growth improvements. The brand expands to scalp oils infused with argan. | Arjun PurkayasthaBessemer Venture Partners+6 | $15M | - | Series A | |
Dec-25 | Baolan |  | - | Challenjers CapitalKering+1 | $14M | - | Series A | |
May-26 | N | Neopolis Brands | | Neopolis Brands is a retail brand platform distributing global fashion and lifestyle brands through retail, wholesale, and brand development activities. | Ashish KacholiaBrandix+2 | $9.5M | - | Seed |
Dec-25 | Danielle Guizio | | - | - | $9.0M | - | Undisclosed stage | |
Dec-25 | Argent | | Argent is a London-based online retailer specializing in sustainable workwear for women professionals. The company offers tailored blazers, trousers, and dresses in organic fabrics from brands like Recycled Polyester collections. Argent ships across Europe with virtual styling consultations and focuses on size-inclusive sizing from UK 6 to 24. | - | $8.5M | - | Series B | |
Dec-25 | Municipal Co. | | Municipal Co. is a New York-based apparel and footwear brand designed for urban active lifestyles. | - | $8.2M | - | Undisclosed stage |
VC investors active in fashion & clothing
Crowdcube is the most active VC investor across fashion & clothing, having invested in 9 startups in the last three years.
See all fashion & clothing VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Crowdcube |  | Crowdcube is an equity crowdfunding platform based in the United Kingdom that facilitates investments in startups and growing businesses since 2011. Investors commit funds in exchange for equity stakes or annual returns, supporting over 520 successful raises totaling more than £230 million from a community exceeding 390,000 participants. Notable campaigns include Monzo's £1 million raise in 96 seconds, alongside River Cottage, Eden Project, JustPark, eMoov, Sugru, and Chip. | FRAHM JacketNUSWaterhaul+2 | 9 | Pre-seed | |
Fireside Ventures | | - | Escape PlanMoxie BeautyUNDERNEAT+2 | 8 | Seed | |
Techstars | | Techstars is a Boulder-headquartered global network founded in 2006 that operates over 50 accelerators annually across 15 countries. It invests $120,000 in exchange for 6 percent equity in 500 startups yearly, spanning AI, sustainability, and healthcare. The firm manages a venture fund deploying capital into alumni companies and runs corporate partnerships with brands like Amazon and Barclays for innovation pilots. Techstars portfolio exceeds 3,500 companies valued over $15 billion collectively. | SimplifyberBettaknitSALUBATA+2 | 7 | Pre-seed | |
FasterCapital |  | FasterCapital is an online incubator and accelerator connecting startups worldwide with angel investors, VCs, and micro-VCs through equity-for-services models in technical development and business growth. The platform offers mentorship, pitch deck reviews, and funding matchmaking for over 10,000 entrepreneurs annually. FasterCapital facilitates deals in sectors like fintech, healthtech, and edtech from its global network. | IM UniqueMeltex Textile and Apparel ManufacturingAstonix Clothing+2 | 6 | Pre-seed | |
Alteria Capital | | Alteria Capital is a Mumbai-based venture debt provider financing innovative companies with substantial venture capital support. Offering non-dilutive capital cheaper than equity, the fund enhances returns for existing shareholders while fueling expansion in technology and other high-growth sectors across India. | Showroom B2BZILOGIVA+2 | 6 | Series A | |
Antler |  | Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons. | RevaziKoobzURSTYLE+2 | 6 | Pre-seed | |
S | Sangeet Agrawal | | Sangeet Agrawal is the founder of Mokobara, a direct-to-consumer luggage brand offering durable travel gear designed for modern adventurers. | Gully LabsMoxie BeautyReplyAll+2 | 5 | Seed |
Blume Ventures | | Blume Ventures is a Mumbai-headquartered venture capital firm funding pre-seed and seed-stage tech-enabled startups in India. It invests in sectors like fintech, edtech, and consumer internet, with follow-on rounds for portfolio companies including GreyOrange for robotics and Turtlemint for insurance. | Lucira JewelryFreakinsFashor+2 | 5 | Seed | |
Sauce.vc | | Sauce.vc is an early-stage venture capital fund targeting consumer brands in India. It employs a high-engagement model backed by a network of service partners aiding brand scaling across operations, marketing, and growth. | Krieya Beauty & WellnessUni SeoulCove & Lane+2 | 5 | Seed | |
Saama | | Saama is an India-focused venture capital fund that succeeded SVB India Capital Partners I. Active in Indian investments since 2006, it employs a collaborative partner-driven strategy diversified across company stages and sectors. The same investment team operates under this new branding to support technology and growth-stage startups in the Indian market. | Gully LabsDaMENSCHMokobara+2 | 5 | Series A |
Founders and investors we've worked with
We've supported winning builders across fashion & clothing and beyond.
GoTrendier
We advised GoTrendier, the leading second-hand fashion marketplace in LatAm (Mexico and Colombia), on its $14m Series B fundraise led by IDB.
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AVE & YOU
We acted as fundraising advisor to AVE & YOU, a Berlin-based beauty-tech DTC brand and personalized skincare platform, supporting its capital raise to fuel growth.
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Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
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Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
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Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
See moreRecent VC fundraising track record
See our VC fundraising experience across fashion & clothing and beyond.
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