Fashion Entrepreneur Fund (FEF) has roped in as an investor and promoter to support emerging fashion entrepreneurs.
Dalmia’s experience and networks are expected to boost FEF's mission, making it a leading platform for fashion entrepreneurs in India.
FEF will invest INR 20 Cr in the fashion sector, with recent backing from RJ Corp’s chairman Ravi Jaipuria and Bollywood actor Akshay Kumar.
Fashion Entrepreneur Fund, a platform which offers early stage investments and mentorship to fashion entrepreneurs, has roped in Dalmia Group Holdings’ chairman Gaurav Dalmia as investor and promoter.
Dalmia will help in boosting Fashion Entrepreneur Fund’s mission to nurture and support emerging fashion entrepreneurs, FEF said in a statement.
FEF’s chairman Vagish Pathak and founder Sanjay Nigam said in a joint statement that their mission is to create a vibrant ecosystem where fashion dreams can flourish into successful enterprises.
“Dalmia’s experience and extensive networks will be invaluable in reaching out to fashion brands and entrepreneurs. With his support, we are confident that FEF will become the go-to platform for fashion entrepreneurs in India, providing them with the investment, resources, and mentorship they need to succeed,” they added.
Dalmia said, “Joining FEF aligns with my vision of encouraging innovation and entrepreneurship in India. The Fashion Entrepreneur Fund presents a unique opportunity to nurture and elevate this talent.”
FEF will invest an initial amount of INR 20 Cr to help individuals in the fashion sector.
Last month, the fund reportedly received investments from RJ Corp’s chairman Ravi Jaipuria and Bollywood actor Akshay Kumar.
In March, FEF reportedly launched an OTT web series for fashion startups, which allows entrepreneurs to pitch ideas and secure funding.
According to an Inc42 report, India’s fashion ecommerce sector is set to grow at a CAGR of 25% to reach a size of $112 Bn by 2030. Within this market, the women’s apparel and accessories segment is expected to lead, capturing a substantial 50% market share by 2030.
