6Degree is India’s foremost fashion talent and tech start up, which is headquartered in Leeds, UK and has two operational offices in India – one is in Hyderabad and the other is in Goa. The startup recently shifted base from Hyderabad to Goa, as the founders Nikhil Hegde and Amit Bhardwaj think that Goa is the hub of fashion and creativity.
The quintessential fashion platform, 6Degree started its operations in 2014 with the aim to provide opportunities for fashion professionals to showcase their talent worldwide. It also unifies all those ‘fashionable’ individuals who are related to the fashion industry in some way or the other – fashion designers, fashion bloggers, brands, models and photographers. 6Degree serves over 2500 fashion professionals and boasts its association with some of elite fashion weeks like Lakme Fashion Week, India Fashion Week London, Mysore Fashion Week, Fashion Forward Dubai etc.
6Degree was itself launched at the Lakme Fashion Week and ever since its launch, it has been associated with several events across India and Pan Asia – this trend marks the first step towards accomplishing a vision to encourage the showcase of some superb fashion talent all across the globe spanning multiple geographies.
Funds and Expansions
The startup has progressed rapidly ever since its inception. The founding team disclosed that the first financial year was closed with revenues in excess of INR 1 Crore. Industry experts believe that the business of fashion industry is marked at over $1 Trillion and that our country constitute to about 10% of the global market share. Talking about funding, Nikhil Hedge said, “We are well on track to reach our revenue target of $300 K (INR 2 Cr) by the close of the current financial year and this will add greater momentum in our growth plans into the Middle East and South Asian markets. In order to achieve this, we have also initiated a fresh round of funding to boost our seed capital.”
Recently, 6Degree, raised $200,000 from Indian Angel Network (IAN) and with this investment, Abhishek Agarwal is believed to be joining the company board soon. This fashion startup is planning to use the capital to boost its tech front and launching the first-of-its kind Enterprise Solutions for many fashion weeks.
Abhishek Agarwal predicted in a recent interview about the future of Indian fashion market. He said that it’s going to be huge in the next 10 years. He also observed a very interesting trend in the current fashion market of India – fashion conscious Indian affluent consumers are increasingly spending in Indian designer wears for their day to day as well as key functions and they also prefer wearing international brands. It is this trend that investors are tapping in. He further added, “6Degree collaborations with both fashion designer and fashion week is unique in nature. In addition, their upcoming tech platform will bring efficiency into the system.”
Challenges are everywhere – they fosters growth
For 6Degree, challenges come in the form of its competitors, namely Fashion GPS and Talenthouse, which is Anil Ambani’s Reliance Entertainment-backed fashion platform. But 6Degree has a survival plan in place – in order to scale up further, it plans to launch a B2B application for its fashion weeks and organisers.
Fashion is slowly becoming a way of life in today’s world. The young generation of today have access to ample resources to revamp their wardrobe and change their looks. Everyone wants to be fashionable and look stylish. So if you are looking to put a tinge of spring into your fashion quotient or a wannabe model who wants to get her portfolio done or looking for networking with the industry experts, consider visiting 6degree.