March 29, 2025—The Indian Institute of Art and Design (IIAD) hosted its inaugural Entrepreneur Summit 2025, a forum designed to facilitate critical discourse between Fashion Business Management (FBM) students and industry leaders. Featuring leaders from startups to established brands, the event brought together leading entrepreneurs, including Ashish Dev Kapur, Founder of Whisky Samba, The Wine Company and Antares; Kunaal Kumar, Managing Director of Modern Bazaar; Shivam Sahi, Co-Founder & COO of Blue Tokai; Vandy Mehra, Director of Study By Janak and Mohit Jain, Founder & CEO of Miraggio.

Moderated by (Prof.) Dr. Sunita Gupta Konwar, Course Leader of Fashion Business Management, the summit was themed “The Entrepreneurial Mindset – Skills, Strategies & Survival.” At the heart of the summit were discussions on building an entrepreneurial mindset, strategic thinking and business resilience. Through firsthand accounts, students gained insights into the challenges and triumphs that shape an entrepreneur. Their insights provided students with a deeper understanding of the realities of entrepreneurship, reinforcing that success is rarely linear and that every challenge presents a learning opportunity.

Dr. Jitin Chadha, Founder & CEO, IIAD, opened the summit by reaffirming IIAD’s commitment to encouraging innovation and exploration. “Entrepreneurship is not merely about launching businesses—it is about creating futures. The ability to transform an idea into reality requires vision, perseverance and adaptability.” He reflected on his own entrepreneurial journey, noting that building IIAD came with its share of challenges.

The discussion commenced with Kunaal Kumar, Managing Director of Modern Bazaar, sharing his transition from an engineering background into multi-category retail chain, underscoring the importance of passion in entrepreneurship. “Your gut instinct and dedication to what you do will define your success,” he noted.

Shivam Sahi, Co-Founder of Blue Tokai, spoke about India’s specialty coffee sector and the opportunity to build a premium coffee culture domestically. “India produces high-quality coffee, yet most of it was exported. The challenge was to shift consumer perception and create a space for premium coffee consumption within the country.”

Ashish Dev Kapur, Founder of Whisky Samba, The Wine Company and Antares (Goa), reflected on his unconventional journey. He shared how his transition from budget ventures to experiential concepts was driven by recognising gaps in the market. “If you have a pressing need, you see, in the market, there’s a genuine gap that you can fill,” he explained. He also emphasized trusting the process, learning from mistakes and building a vision that serves a real need.

Vandy Mehra, Director of Study By Janak, spoke about overcoming challenges within a conservative family structure to carve a niche in the industry. She recounted, “I started with just 1,000 square feet within the store. Today, at 16,000 square feet, the women’s segment has set itself apart. It has been a fulfilling journey of staying true to my vision.”

Mohit Jain, Founder & CEO of Miraggio, highlighted the perception gap between Indian and global brands, stating, “Brand experience is everything—from social media to retail and packaging. We focused on creating a strong brand identity, even though I came from a non-fashion background.”

The panelists also discussed the evolving dynamics of failure and the necessity of adaptation. Ashish Dev Kapur, Founder of Whisky Samba, The Wine Company, and Antares, emphasized the importance of choosing a niche where consumer awareness already exists, noting that entering a market where some level of education has already taken place can make a significant difference. He also underscored financial discipline in entrepreneurship, stating, “Top line is vanity. Bottom line is sanity, but cash flow is reality.”

Vandy Mehra, Director of Study by Janak, spoke about the brand’s ability to stay relevant while preserving its legacy. She emphasized that constant evolution in fashion sensibilities, combined with a strong business ethos, has kept Study by Janak at the forefront. “We are very clear about our identity as an occasion-wear brand and have no intention of diversifying into everyday fashion,” she noted.

The summit concluded with an engaging Q&A session, where students posed questions on business sustainability, brand differentiation and market entry strategies. Ashish Dev Kapur acknowledged IIAD’s efforts, stating, “The exposure and efforts here are commendable. You’re helping students see the real world before they enter it.”

The FBM programme at IIAD equips students with a comprehensive understanding of business strategy, brand positioning, supply chain management and consumer engagement in the fashion sector. Events like the Entrepreneur Summit 2025 serve as crucial platforms for bridging academic learning with real-world industry experiences. These interactions allow students to absorb practical knowledge from seasoned professionals, helping them navigate the complexities of the business landscape while fostering the confidence to innovate and lead.