The Islamic Fashion & Design Council (IFDC) has announced the launch of a fund to help emerging modest brands find success in the $1.9 trillion global Muslim lifestyle market.
The fund will offer to pay the fees of modest fashion designers to enable them to showcase their products at events, with it being applied first to the upcoming Pret-A-Cover Buyers Lane, The Retail Summit Edition from February 13-14th.
The IDFC, which said the list of selected designers will be released soon, added that the fund is a first in the global modest fashion space, and necessary for the proper development of the industry.
"A designer’s career can be made or broken by their ability to showcase work and gain critical exposure at key events like Pret A Cover Buyers Lane, yet with rising event production costs that get passed on to the designers, it has made for a challenging proposition – until now," it said in a statement, without disclosing the size of the fund.
The IFDC said it will be working together with brands, helping them to remove roadblocks thereby increasing their pathways to development and success. By covering fees and certain costs, IFDC’s aim is to significantly bolster the momentum of the growing modest lifestyle industry.
Alia Khan, chairwoman of IFDC, said: “The Retail Summit is the first event where modest designers will be able to gain access to IFDC funding. As it’s the highly anticipated retail event of the year, The Retail Summit is the perfect partner for us to offer bigger opportunities to the global modest lifestyle players.”
"This is a seminal moment for brands to share a platform alongside the ultimate elite of the retail industry at our upcoming The Retail Summit in Dubai... And with the added support of the IFDC fund, the Pret-A-Cover Buyers Lane modest market component of our event becomes an invitation-only platform where well selected modest fashion and design brands will be showcased to global attendees; an opportunity that can very well catapult their journey to the next level," said Gary Thatcher, co-founder and CEO of The Retail Summit.
VIP names confirmed to attend the event include Sir Richard Branson, founder of the Virgin Group, Huda and Mona Kattan, co-founders of Huda Beauty, and Patrick Chalhoub, CEO of Chalhoub Group.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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