The British Fashion Council will launch a new fashion fund to celebrate its 25th birthday and to help develop up and coming designers.
British Fashion Council chairman Harold Tillman unveiled plans to launch the largest ever UK fashion fund yesterday at a special reception held by Sarah Brown at 10 Downing Street.
The fund will be worth more than the CDFA/Vogue Fashion Fund in New York which awards designers a total of $300,000 (£168,500) and will be awarded for the first time in November 2009.
The BFC has will also commission a report next year into the importance of the fashion industry to the British economy. The BFC will tackle various issues including the need for increased business support and training for designers and working with colleges to incorporate more business development into courses and creating the first MBA in Fashion.