The British Fashion Council has announced the first recipients of its emergency fund, helping members of the fashion industry navigate the COVID-19 pandemic.
Thirty-seven British designer businesses, out of 220 applications, have been named in the first round, with the BFC using its £1 million fund to support them. A portion has been allocated to students. The amounts range from £5,000 to £50,000 depending on urgency and capability. Recipients would also receive business support and mentoring from the BFC Fashion Business Network, which includes DLA Piper, Eco-Age, the Ellen MacArthur Foundation, Farfetch, FashionEx, Google, HSBC, Instagram, Lewis Silkin, Lloyds, LVMH, Mishcon de Reya, RSM, Sheridans, Taylor Wessing, Value Retail, and YouTube, and one-on-one mentors.
The earlier BFC–Vogue Designer Fashion Fund (VDFF) was a £200,000 prize set up for a winning designer. This amount has now been shared with the six designers originally shortlisted for the grand prize.
The recipients are: Alighieri (VDFF 2020), Ahluwalia, Aries, Art School, Bethany Williams, Bianca Saunders, Chalayan, Charles Jeffrey Loverboy (VDFF 2020), Chopova Lowena, Craig Green, David Koma (VDFF 2020), E. Tautz, E. L. V. Denim, Edeline Lee, Eftychia, Halpern (VDFF 2020), King & Tuckfield, Kwaidan Editions, Liam Hodges, Matty Bovan, Metier (VDFF 2020), Nabil Nayal, Neous, Nicholas Daley, Palmer/Harding, Paper London, Paria/Farzaneh, Per Gotesson, Phoebe English, Raeburn, Rejina Pyo (VDFF 2020), Richard Malone, Richard Quinn, Roksanda, 16Arlington, Stefan Cooke, and Toogood.
Caroline Rush, chief executive of the BFC said, ‘Over the last couple of weeks, we have seen an astonishing amount of applications come through from British designer businesses all over the country, asking for help to survive the crisis. The need for support is immense. Our hope is to reopen the fund for future rounds, to help as many businesses as possible, and ensure the future growth and success of the British fashion industry.’
The fund comprised support grants from the BFC–Vogue Designer Fashion Fund, BFC–GQ Designer Menswear Fund supported by JD.com, BFC Fashion Trust and BFC Newgen.
The BFC estimates that £100 million of support is required over the next 12 to 18 months. The fund will reopen for further rounds every time a £500,000 milestone is reached.
Alexander McQueen, Browns, Clearpay and Coach Foundation have already contributed to the next round.
Arch & Hook, BFC Fashion Trust supporters, British GQ, British Vogue, Browns, Burberry, Depop, European Regional Development Fund, HSBC, JD.com, Label/Mix, Mayor of London, Paul Smith, Revlon Professional, Rodial and Value Retail have been contributors to the BFC Foundation Fashion Fund.
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