Sanjay Nigam, founder of the Fashion Entrepreneur Fund (FEF), has launched a new fashion venture studio with plans to invest US $ 59.5 million over the next five years. The initiative aims to support emerging fashion entrepreneurs and build a robust fashion ecosystem.
Nigam highlighted the lack of financial support for the fashion industry during the pandemic, stating, “There’s a need for an ecosystem offering both funding and mentorship to fashion professionals. Our goal is to empower fashion entrepreneurs to become global leaders.”
The studio has already received over 25,000 applications in its first phase, with the second phase offering more investment and mentorship opportunities. According to Vagish Pathak, chairman of FEF, “The Indian fashion industry is expected to grow from US $ 60 billion to US $ 105 billion by 2025, but there’s limited support for fashion entrepreneurs. FEF aims to fill this gap.”
The venture studio will focus on developing industry-specific skills and business expertise. Ravi Jaipuria, a key supporter, added, “With 45 million fashion enthusiasts in need of funding, FEF is positioned to drive innovation and growth in the fashion industry.”
