British Fashion Council Offers Financial Support to 37 London-Based Designers

British Fashion Council Offers Financial Support to 37 London-Based Designers

British Fashion Council Offers Financial Support to 37 London-Based Designers

The BFA aims to raise £50 Million to support struggling designers during the Covid crisis.

The BFA aims to raise £50 Million to support struggling designers during the Covid crisis.

Text: Paul Madley

The British Fashion Council (BFC) has announced that they plan to raise £50 million to support London-based designers during the COVID crisis. From over 200 applicants, 37 designers were chosen to receive the fund. Some of the fortunate designers include long-standing creatives Hussein Chalayan, Christopher Raeburn, and a mix of up-and-coming designers. The younger labels include Richard Quinn, Matty Bovan, Charles Jeffrey Loverboy, Alighieri, 16Arlington, Pyo, Eftychia, Stefan Cooke, Craig Green, E. Tautz, E.L.V. Denim, Edeline Lee, Kwaidan Editions, Liam Hodges, Nabil Nayal, Nicholas Daley, Palmer Harding, Paper London, Phoebe English, and Richard Malone, to name but a few.

Back in March, the BFC decided to split the prize money from the prestigious BFC/Vogue Designer Fashion Fund to all of this year’s finalists. They quickly realized that a lot more money would be needed to support the next wave of UK talents during this unprecedented time. According to the BFC, it is estimated that up to 100 million pounds will be needed to keep young fashion businesses afloat over the next 12 to 18 months. Some British retailers have already been forced to permanently close their doors, hopefully, this new initiative will ensure the success of British talent and design. Caroline Rush chief executive officer of the organization said, “The need for support is immense. Our hope is to help as many businesses as possible, and ensure the future growth and success of the British fashion industry.”

The BFC has called upon the British government and industry giants to help raise the necessary funds. So far Alexander McQueen, Browns, and Coach have all contributed to the initiative. Each of the recipients will receive up to 50,000 pounds for their brand. They will also have access to business support and mentoring from BFC partners Farfetch, Eco-Age, YouTube, Instagram, Google, and Value Retail. The reality is that not all fashion businesses will survive, that’s why “as an industry, we now need to come together to make sure we’re protecting the next generation of talent,” commented Rush.

Matty Bovan is one of the designers to receive support from the BFC. Check out his Fall 2020 collection in the video below.

Credits: Video courtesy of YouTube

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