Event Capital Ventures into Wedding Industry with India Bridal Fashion Week
Event Capital, a group company of Laqshya Media Group, and India’s largest curator and aggregator of event IPs has recently partnered with India Bridal Fashion Week by acquiring substantial stakes in its event format in January 2019. India Bridal Fashion week – the event IP, was solely owned by IBFW Retail Pvt. Ltd since its inception in 2010, under the aegis of Mr. Vijay Singh, Founder and CEO, IBFW. IBFW Retail Pvt Ltd also independently operates its business in retail formats, both online and offline as IBFW.com and IBFW wedding stores with its current presence across major cities in India.
Launched in 2010, India Bridal Fashion Week (IBFW), the large format event, is the most opulent and highest profile fashion week in India. It leads the fashion industry through creative influence and has been strategically repositioning Indian fashion in the global fashion economy since past 8 years. The event showcases latest trends and designs in bridal couture by leading fashion designers of the country. IBFW has become the most aspired destination for India’s top designers, couture lovers, influential individuals, celebrities, socialites and legacy brands.
India Bridal Fashion Week has been participated by leading fashion designers like Abu Jani Sandeep Khosla, JJ Valaya, Rohit Bal, Tarun Tahiliani, Vikram Phadnis, Manish Malhotra, Meera Muzaffar Ali, Pallavi Jaikishan, Falguni Shane Peacock, Gaurav Gupta, Gauri Nainika, and many more. Indian Celebs like Kangana Ranaut, Jacqueline Fernandes, Sonam Kapoor, Alia Bhatt, Sonakshi Sinha, Sania Mirza, Anil Kapoor, Saif Ali Khan, Abhishek Bachchan etc. have walked the ramp for India Bridal fashion Week.
Speaking on the occasion, Alok Jalan, Managing Director, Laqshya Media Group, said, “We aim to promote & nurture a set of very high quality and large format event IPs, which are leaders in their conforming genres and create value for all stake holders. IBFW is a step in that direction. Indian weddings are known for their style and grandeur which makes wedding industry economics noteworthy; and within that bridal fashion is huge. We are keen to make significant contribution to the bridal fashion industry with this partnership.”
Mr. Vijay Singh, Founder, IBFW, said, “Today, Wedding has become a lifestyle statement for the rich and famous; and with enormous amount of money being spent on it, the bridal couture wear is the most profitable segment for the Indian fashion Industry. IBFW aims to tap this segment while helping the consumer get the most out of our talented designers and lifestyle products available in the country. Bridal fashion contributes to approximately 70% of leading designers' revenue in India with the Wedding industry itself valued at 2.5 lakh crores and growing at 25% annually. Partnership with Event Capital is a great step and we are excited to take IBFW to the next level together with our strengths combined.”
Speaking on the occasion, Deepak Choudhary, Founder & Director, Event Capital, said, “At Event Capital, we identify sizeable IPs across various categories and then acquire or create large IPs in those genres to own those communities. IBFW has been the most privileged and acknowledged property in India which has been talk of the town over years in the designer community, bridal community and wedding industry space and so it was only a logical progressive strategy to partner with IBFW to own this community.”
With this partnership, IBFW aims to build a stronger event together in 2019 with large format shows in multiple cities. The dates are expected to be announced in April 2019.