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 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.