FDCI issues refunds to designers
In the wake of the coronavirus pandemic, the premium fashion body supports designers by returning all their money
In the face of the coronavirus scare, the Fashion Design Council of India (FDCI) decided to postpone the fashion week, a few days before shows were about to commence. The passes were printed and the stage was being prepared, however the spread of the pandemic prompted the decision. It was undoubtedly a big blow to the fashion industry as the show had a lot of money riding on it. Hence Sunil Sethi, chairman, FDCI, decided to refund designers the money they had invested in stalls and shows (estimated to be close to a few crores).
“I felt it was the right thing to do. Even though the fashion week is just postponed, but due to the uncertainty, FDCI cannot commit on a later date. In this medical emergency, this was a natural thing to do. So, the FDCI team asked all designers for their bank details and refunded the money. Many asked me to keep it for the upcoming fashion week which would happen eventually but it didn’t feel right to block their money. Having financial security in times like these is important and I have to be there for our fraternity as FDCI is an organisation by the designers and for the designers. If there is an applause, it should be for the camaraderie in the fashion fraternity because we are all united in the times of crisis,” says Sethi, explaining how the industry is battling the crisis.
FDCI will also refund money to the sponsors. “They have always trusted us to deliver. They asked us to keep the money for when the fashion week is scheduled, but businesses are also going through crisis. It is a hit on the chin for us as we haven’t got a refund or future adjustment credit note from JLN Stadium, though they are sympathetic towards us and understand the situation. We have approached the Sports Minister, Kiren
Rijiju, and are hoping that things get resolved,” he adds.
All designers are understandably overwhelmed by the council’s move and have applauded it across the board. “So proud to be part of a body that’s been so sensitive at a time when we need it the most,” says Sapna Mehra from Rajesh and Payal Pratap.
“Times are tough and we are glad that FDCI is supporting the upcoming designers,” says designer Paras Modi from SVA Couture. “I was impressed by the support offered by Mr Sethi,” says accessory designer Niki Sawansukha, who had a stall.
Designer Kanika Goyal says, “Sales are down and we are struggling with production. Amid all of this, Mr Sethi reimbursed the money, which was very helpful.”
Having financial security in time like these is important and I have to be there for our fraternity as FDCI is an organisation by the designers and for the designers.
SUNIL SETHI CHAIRMAN, FDCI