It’s no secret that independent fashion brands and small designers are struggling right now, however the British Fashion Council has come up with a plan to help.
It has created the BFC Foundation Covid Crisis Fund, which will make £1,000,000 of emergency funds available with the majority supporting designer businesses and through reserves from its Education Foundation, a portion of the funds allocated to students, underpinning the future generation of creative talent.
This was done by exceptionally pooling all of the BFC’s talent initiative schemes, BFC/Vogue Designer Fashion Fund, BFC/GQ Designer Menswear Fund supported by JD.COM, INC, BFC Fashion Trust and NEWGEN.
Caroline Rush, the BFC’s Chief Executive, said in a statement, ‘These are unprecedented times and now more than ever the BFC is committed to helping all the businesses and people making up the fashion industry. The BFC Foundation Covid Crisis Fund will support designer businesses and students during the crisis with £1m of emergency funds available. Simultaneously, we are launching a fundraising campaign to gather contributions crucial to the survival of our industry. Now is the time to come together and support each other and this is what the new Fund’s aim is.’
Applications for the fund will be open until 10th April.