Since the start of the coronavirus crisis and over the past weeks, we have been learning about the problems the fashion industry is experiencing and we have seen, with heavy hearts, how it is having a profound effect on our emerging designer businesses. We have been in constant communication with government not only to share our industry’s challenges, but also to ask for much needed support. In these exceptional times, we feel more can be done.
That is why, in the spirit of community we have taken the decision to pool our resources from across all the talent initiative schemes: NEWGEN, BFC Fashion Trust, BFC/Vogue Designer Fashion Fund and BFC GQ Designer Menswear Fund supported by JD.COM, INC and the BFC Education Foundation. We have made available more than one million pounds of emergency funding via the BFC Foundation Covid Crisis Fund, in the form of grants for designer fashion businesses, to be allocated to support more designer businesses who will need it during this crisis and a number of students directly through restricted education funds to receive support also.
This year, we are exceptionally asking each business who has applied for a BFC Fashion Trust grant to resubmit their applications for any emergency funds needed under the new criteria. The fund will be open for applications next week.