DUBAI/ MOSCOW: With rising costs, shifting consumer habits and growing demand for sustainable practices, the fashion industry is facing a critical turning point.
That reality was front and center during “Market Privileges: How to Attract Investors to the Fashion Industry,” a key panel at the BRICS+ Fashion Summit in Moscow.
Held at the Zaryadye Concert Hall and running until Aug. 30, the summit brings together designers, creatives and industry leaders from more than 60 countries. Its mission; to spotlight emerging fashion markets, foster cross-cultural exchange and rethink how the global fashion system can evolve — particularly across the Global South.
The investor-focused session was moderated by Olga Migacheva, founder of BI Agency, and featured speakers including Tsgehiwot Haftu Geretsadik, head of the garment desk at Ethiopia’s Ministry of Industry; Pitro Polit, director of Quito Fashion Week; Kirill Chizhov, co-founder of Copplife; Yana Komarova, CEO of Zero VC; Alexey Kostrov, executive director of the fund supporting venture investments in small science and tech enterprises in Moscow; and Maxim Penkin, a Russian businessman and retail investor.
Throughout the discussion, panelists explored how designers can secure funding while retaining creative control, what makes fashion appealing to investors and which financial tools are most effective.
“Fashion is more than just relativity, it’s an economic player that boosts it. It’s a huge industry that can attract investors,” said Penkin during the session. “This panel discuss best practices to work holistically.”
Polit emphasized fashion’s broader economic impact. “The key thing to relating to fashion week and the privileges and opportunities implies direct access to global market. Fashion mean diversification, and growth. It’s not only relevant to the textile section but several sectors of the economy,” he said.
He added that events such as the BRICS+ Fashion Summit are essential platforms to showcase the value fashion offers to investors and governments alike.
The conversation also addressed challenges that fashion entrepreneurs face today. Penkin pointed to rising operational costs and changing consumer habits as major hurdles. “Demand over 12 months has gone down. The traffic in shopping malls has decreased from 30 to 50 percent in Moscow. Designers need the help of high-quality investors.”
Representing institutional backing, Kostrov explained the role of the Moscow Venture Fund in strengthening creative industries. “The fund was created to financially support companies that are growing quickly. Yesterday we received news that the companies are producing twice as much and the turnover is fantastic. The capitalization is impressive,” he said. “We see our role in easing the activities of the industry, we have a project for companies to use new technology. Now, it is all in place. We invest for companies that deal with tailormade projects. In our portfolio we have several projects, we will support more new projects.”
From the investor’s perspective, Komarova noted the complex post-pandemic landscape. “In 2022–2023, over 500 new logo brands appeared. In 2025 everything changed. Fashion will be one of the most technological sectors,” she said.
