Fashion Entrepreneur Fund crosses Rs 182 crore in portfolio revenue and targets Rs 500 crore next year

MUMBAI: India’s fashion startup ecosystem has a new milestone to point to. The Fashion Entrepreneur Fund (FEF), the country’s first dedicated fashion-focused venture studio, has announced that the cumulative revenue of its portfolio brands crossed Rs 182 crore in FY 2025-26, nearly double the previous year’s figure. It has now set its sights on Rs 500 crore in cumulative portfolio revenue for FY 2026-27.

The numbers are driven by a clutch of standout performers. Banana Club led the pack, clocking more than Rs 105 crore in net revenue in FY26 on the back of an aggressive omnichannel strategy combining offline retail with digital momentum. Love Kiki posted revenue growth of 227.6 per cent, expanded offline to more than ten cities and secured international B2B orders from Saudi Arabia. Stylox more than doubled its retail footprint, growing from 25 to 58 outlets across India. DMO Dot now operates across eight multi-brand outlets, has acquired over 20,000 customers through its direct-to-consumer portal and is fulfilling orders internationally. Line Tribe doubled its multi-brand outlet presence from six to twelve stores. House of Armure, which plays in premium occasion wear, saw its average order value surge from Rs 34,000 to Rs 85,000 and made its first foray into menswear.

FEF’s investor roster is formidable. The platform is backed by Akshay Kumar, Ravi Jaipuria, Karan Johar, Naveen Jindal, Gaurav Dalmia, Sonali Dugar and Manju Yagnik, with Vagish Pathak as chairman. The fund invests across contemporary fashion, luxury couture, footwear, sustainable fashion, retail-tech and artisanal ventures, pairing capital with mentorship in operations, branding, retail and marketing.

Sanjay Nigam, founder of FEF, argued that the window for Indian fashion brands to go global is opening now. “India is entering a decisive period for fashion entrepreneurship when local brands will be creating businesses that are relevant internationally through luxury offerings, occasion wear, sustainability initiatives and online fashion products,” he said. Nigam added that FEF is equally focused on unearthing talent from tier-2 and tier-3 cities, not just the established fashion capitals.

Looking ahead, FEF is eyeing larger investments, global retail expansion and deeper bets on fashion businesses with strong technology capabilities.

For a fund built on the proposition that Indian fashion entrepreneurs deserve the same institutional support as their counterparts in technology, the FY26 numbers make a compelling case. At Rs 500 crore, the FY27 target is not incremental. It is a statement of intent.