BFC Foundation Fashion Fund for the Covid Crisis

BFC Foundation Fashion Fund for the Covid Crisis has been established to support creative fashion businesses and individuals to survive the Coronavirus crisis. The BFC, through its charity the BFC Foundation, is making £1,000,000 of emergency funds available with the majority supporting designer businesses and with a portion of funds also allocated to students, underpinning the future generation of creative talent.

BFC have announced the first round of recipients of the BFC Foundation Fashion Fund, supporting creative fashion businesses and individuals to survive the Covid-19 crisis. Financial support will be given to 37 British designer businesses, with grants taken from the £1,000,000 emergency fund, allocated to viable businesses depending on their urgency and capability to come through and thrive post crisis. A portion of funds has also been allocated to students, underpinning the future generation of creative talent.

Recipients for the Fund are:

Alighieri (VDFF 2020), 16Arlington, 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, Stefan Cooke, Toogood. 

Caroline Rush, Chief Executive 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 re-open the fund for future rounds, to help as many businesses as possible, and ensure the future growth and success of the British fashion industry.”

This has been made possible through pooling the BFC talent support grants that would have traditionally been awarded for either early stage showcasing support or business growth and promotion. BFC would like to thank all of those that have made the funds possible and our partners in the BFC/Vogue Designer Fashion Fund, BFC/GQ Designer Menswear Fund supported by JD.COM,INC, BFC Fashion Trust and BFC NEWGEN.

While £1 million is a great start, the scale of the need is much greater and BFC has called on both Government to step in to work with them on significant industry stimulus, and on the industry and individuals to support the BFC Foundation Fashion Fund for the Covid Crisis through donations, so that more businesses can be supported at this time.

If you had already applied for one of the BFC initiatives, you will need to make a new application if you wish to be considered for the BFC Foundation Fashion Fund for the Covid Crisis.

 

With thanks to our Partners:

ARCH & HOOK, British Vogue, Browns, Burberry, Clearpay, depop, GQ, JD.COM,INC, Label/Mix, Paul Smith, Rodial and The Bicester Village Shopping Collection

 

Make a donation to the BFC Foundation Fashion Fund for the Covid Crisis

Application Criteria 

This is the first call for applications to the BFC Foundation Fashion Fund for the Covid Crisis. As fundraising progresses we hope to open further application rounds, please note that the criteria may vary in each round.

Applicants can apply for a maximum of £50,000, clearly setting out how this funding will be used (see application form). Companies that are successful will also be able to access BFC business support and mentoring.  All applicants will be added to the BFC database to receive information on new rounds of funding, government support schemes and webinars to help businesses in these challenging times.

Applications can be made by companies who meet the eligibility criteria and will be assessed as set out below.

There will be a webinar held on Tuesday 7th April at 2pm to outline the application process. If you wish to attend please email info@britishfashioncouncil.com.

Successful applicants will be notified before the end of the month, our aim is to get grants to businesses as soon as possible.

Eligibility Criteria

 

In order to be considered for the BFC Foundation Fashion Fund for the Covid Crisis applicants should meet the following criteria:

  • Applicants should have a designer fashion business
  • The applicant's collection should consist primarily of womenswear, menswear, accessories, millinery or fine jewellery, NOT bridalwear or childrenswear
  • The applicant’s company should: be based in the United Kingdom; with the majority of the team based in the UK
  • The applicant's company should be majority-owned
  • Grant money requested should relate to a clear purpose to support the business through the current crisis

Assessment Criteria

Applications will be reviewed against the following areas:

  • Applicants should demonstrate longevity including demonstrating there was access to quality production and future viability as a business (before the change in market conditions and situation)
  • Creative merit: demonstrating a clear aesthetic point of difference and can demonstrate level and quality of media recognition
  • Applicants should demonstrate a viable business model based on business performance and forecasts before the onset of Coronavirus. Note: Applicants must provide evidence that loans and debts could have been met by the business before the crisis and that need is based on these unique current circumstances.
  • The quality of stockists, UK and international and/or proven direct to consumer sales channels
  • The applicants' ability to demonstrate a clear way forward of how the grant funding and the mentoring
  • Need for the grant: takes into consideration other grants and financial prizes and/or awards received and/or applied for and how these have been used; whether business can access government support measures; current and historical investments. Applicants should outline all other avenues of finance explored to contribute to the business survival plan.

Application Process

Applications for Round 1 of funding are now open
Applications must be received by 5pm on Monday 13th April 2020. If your application is late it will not be considered.

Applicants must ensure that they have the following information available before starting the application process:

  • Company Information
  • Lookbook /Portfolio (JPEG or PDF) 
  • Latest press book
  • Financial Information 
  • Most Recent End of Year Accounts (PDF)
  • Details of their request for funding including other sources of finance that have been investigated/sourced

Failure to complete the form correctly and supply all requested information will invalidate the application.

The equal opportunities section must be completed, this will be kept on file for information only and will not affect the applicant’s entry.

 

Applications are now closed.