National, October 12, 2024: Sanjay Nigam, founder of the Fashion Entrepreneur Fund (FEF), has officially launched India’s first fashion venture studio focused on fashion, with plans to invest ₹500 crore over the next five years in emerging fashion entrepreneurs. The initiative, which has attracted over 25,000 applicants in the first call for entry registrations, is now in its second phase, offering aspiring fashionpreneurs a unique opportunity for investment and mentorship.

Nigam explained “During the COVID-19 pandemic, the fashion industry was overlooked in terms of financial support. We realized there was a need for an ecosystem offering both funding and mentorship to those in the fashion sector.

FEF is designed to foster an entire fashion ecosystem by offering financial support, mentorship from industry experts, branding and PR assistance, business acumen, and industry-specific skills. “Our goal is to guide fashionpreneurs to become leaders who can make a global impact. The passion and drive we’re seeing through regional representation is truly inspiring’, Nigam added.
The enthusiastic response from applicants nationwide, with 23% from the North-East and 38.5% from Southern India, has been encouraging for the FEF team.
Insights from Leadership and Investors
FEF Chairman Vagish Pathak emphasized the importance of the initiative: “The Indian fashion industry, currently valued at $60 billion, is expected to reach $105 billion by 2025. However, there are very few funding or mentorship opportunities. FEF is here to fill that gap.”

Investors and board members echoed this sentiment:

Ravi Jaipuria, business magnate: “Fashion is a huge industry, and with 4.5 crore fashion enthusiasts lacking funds, FEF is well-positioned to drive innovation.”

Karan Johar, filmmaker added “Fashion is integral to our culture. I’m excited to support these emerging brands as they captivate global audiences.”

Akshay Kumar, Bollywood actor added, “FEF can unlock a new wave of innovation within the Indian fashion industry.”

Sonali Dugar, businesswoman: “FEF will drive investment and innovation in Indian fashion.”

Manju Yagnik, real estate leader: “With India’s fashion industry valued at ₹125 billion, FEF is set to create a new generation of fashionpreneurs.”

FEF also recently partnered with Dharmatic Entertainment to merge fashion and digital content, elevating emerging talent.

Corporate Comm India (CCI Newswire)

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