The India Fashion Awards (IFA) unveiled the Fashion Entrepreneur Fund (FEF) website at The Claridges in New Delhi on September 3, 2023. The event, attended by industry leaders and celebrities, marked a significant step in supporting emerging fashion and lifestyle entrepreneurs. FEF, founded by Sanjay Nigam, aims to provide financial support and mentorship to nurture entrepreneurship in the fashion industry. Notable figures like Indian film director Karan Johar and business leaders such as Naveen Jindal, Robin Raina, and J.K. Lalwani are backing this innovative venture studio.
(L-R) Robin Raina, Samir Modi, Vagish Pathak, Karan Johar, Neeraj Singla, Sandeep Jain, Vinod Dugar, Sanjay Nigam and Abhishek Singh
Karan Johar launched the FEF website during the 'Alliance Dinner' at The Claridges, expressing his enthusiasm for empowering young entrepreneurs in the fashion and lifestyle sector. He emphasised that FEF is not just about funding but also about providing essential mentorship to help the next generation make their mark in the industry.
In addition to the website launch, FEF announced an initiative to invest ₹20 crore in fashion and lifestyle start-ups, chosen based on their business acumen and creativity. This investment program, overseen by Karan Johar, will be part of an OTT series showcasing the journeys of these startups.
Vagish Pathak, Chairperson of FEF, highlighted the importance of this initiative in fostering a positive impact on the fashion and lifestyle industry. He stressed the role of fashion in reflecting individuality, creativity, and sustainability.
Sanjay Nigam, the founder of FEF and IFA, expressed his gratitude and vision, emphasising the comprehensive approach of FEF in empowering individuals and reshaping the industry.
The launch of the FEF website and the investment program are expected to have a significant impact on the industry's future.