I know nothing about Fez' but the materials used in making this Fez are all inexpensive and potentially modern looking to me. The felt is a wool felt, the tassel looks like rayon, and the sweatband appears to be cardboard. All of these materials were used as early as the 1940s, but more typically date from the 1970s or later. The typography of the label however, also looks 1970s to me.