British Fashion Council and British Vogue Create Joint Fashion Fund

The British Fashion Council (BFC) and British Vogue have teamed up to create a major new award for fledgling young U.K. designers.

Calling the plan “a new landmark designer support scheme,” the two groups pledged to provide the future winner with funds of “£200,000 (or $328,000) and high level mentoring support.”

To be entitled "The BFC Vogue Designer Fashion Fund," the plan is part of the BFC’s 25th anniversary legacy. The London-based organization celebrated its quarter century this past September with a bumper crop of runway shows, climaxed by the one-off return of Britain’s most successful luxury brand, Burberry, for a huge runway and party event.

“This fund aims to help our most talented designers to become the global fashion brands of our future,” explained Vogue editor Alexandra Shulman.

Entrants will be limited to designers with an established, U.K.-based business, a recognized client list of U.K. and international retailers and credible support from key media both in the U.K. and internationally.

“Last September, at 10 Downing Street, I announced our vision for the fund as a legacy of our 25th anniversary. Today, we are able to launch this landmark designer support scheme in partnership with Vogue,” said BFC Chairman Harold Tillman.

He cautioned that the fund will be targeted at designers who can demonstrate a clear vision for their business and how the fund would contribute to them creating an international brand.

“London is recognized as being a world leader in creative talent, however, building on initial success has often proved challenging even for our most promising designer businesses. This scheme aims to support designers who are at a stage in their development where they require top level advice alongside a cash injection to achieve longer term success and to move their brand onto the global stage,” Tillman added.

Applications need to be received no later than Dec. 2, after which a “committee of patrons and industry experts” will create a shortlist of applicants. Following interviews, the winner and finalists will be announced in April 2010, a judging process British Vogue plans to document in its May 2010 issue.

Additional awards of mentoring and business support may be allocated to finalists at the judging panel’s discretion, Tillman noted.

The BFC award is one of the most generous in Europe, though one of the most valuable is the Incubatore Della Moda, or Fashion Incubator, created by the Camera della Moda, Italian fashion’s governing body, which totals annually 750,000 euros, or $1,102,485 at current exchange rates.

The new U.K. development marks the latest step by the BFC to support emerging talent, following on NEWGEN supported by Topshop and Fashion Forward financed by the London Development Agency.

Tillman stressed that mentors from retail, finance, media, brand development, accountancy and law will work with winners for a year to help with the long-term goal of developing new British global fashion brands.

Tillman will chair the fund, while Shulman will chair the inaugural judging panel. Applicants are requested to visit www.britishfashioncouncil.com.

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