ELIGIBILITY CRITERIA
In order to be considered for the BFC Fashion Trust grant, applicants should meet the following criteria:
- Applicants should have an established designer fashion business that has been actively trading for a minimum of 3 years, at the time of applications closing (19th January 2024).
- The Fashion Trust initiative is open to all ready-to-wear collections and/or accessories, millinery or jewellery. Collections cannot consist of bridalwear or childrenswear.
- The applicant’s company should be based in the United Kingdom and registered with Companies House (not sole trader).
- The applicant's company should be majority-owned by the Creative Director/Designer. No less than 75% of the business owned by the Founder(s)/Designer(s) and immediate family.)
- Applicants should have a minimum of 6 international and UK stockists and/or sell direct-to-consumer (DTC-only brands should have been trading via their own ecommerce or social media channels for at least 2 years and have minimum £100,000 annual sales.)
- Applicants should be able to demonstrate support from both UK and international media.
- Applicants can apply up to 5 times.
- The grant can be received 3 times.
ASSESSMENT CRITERIA
Applications will be reviewed against the following areas:
- Creative merit: demonstrating a strong aesthetic and point of difference.
- Contribution of brand and designer to UK fashion ecosystem and how they have given back with their time/resources.
- Future business model: applicant’s ability to demonstrate a clear vision on how the fund will empower the positive growth of their business, articulate how projects align to their broader business growth vision, and show a clear return on investment.
- Use of the funds: planned use of funds that relate to a defined project that will be delivered within a set period of time and should not exceed £50,000. It should not be used to employ permanent staff or to cover expenses that will extend beyond the length of the project.
- The level and quality of stockists both international and UK; and/or proven direct- to- consumer sales channels.
- The level and quality of international and UK media recognition.
- Applicants who produce fashion shows are advised to show at London Fashion Week if applicable.
- The applicant’s demonstration of how they are addressing the three pillars of Positive Fashion: Environment, People, and Community & Craftsmanship.
- Quality and completeness of application form.
APPLICATION PROCESS
Applications are now closed.
Applicants will be asked to submit the following information with their application:
- Company information.
- A look book from the last two collections.
- Latest press book.
- Two industry referees (buyer and/or press).
- Financial information (1. Financial summary template, 2. Cash flow template)*. Click here to download the guidelines. If you are having problems downloading the financial templates please click here.
- Most recent end of year accounts (PDF).
- A short statement on how you are addressing the three pillars of Positive Fashion: Environment, People, and Community & Craftsmanship.
- Plan for how you would spend the grant money (apply for £50,000 maximum) which should relate to a defined project that will be delivered within a set period of time.
Please find here a PDF of the application form which you can use to prepare your answers. Please note, all applications must be submitted digitally, this document serves as a reference only.
*Application form best practices
-Use Google Chrome on a desktop/laptop
-Be sure to check all file formats match the specifications required – you will find these next to each of the fields that require a file upload
-Additionally, be sure to check that that file sizes do not exceed the size limit listed
-If possible - prepare answers in Word or excel so you can copy and paste them in directly
*If you are having trouble applying, please try the following steps:
-Hard refresh your browser.
-Clear your cache.
-Open the webpage in an ‘incognito window’ on Google Chrome
Applicants who fail to complete the form correctly and supply all requested information will be removed from the process.
Applicants will be asked to complete equal opportunities information about their business, their staff and themselves, this information will be kept on file for internal use only and will not form part of the
JUDGING PROCESS
- Applications will be reviewed and shortlisted by a judging panel committee consisting of industry experts and funding representatives.
- Applicants will be informed if they have been shortlisted in February 2024.
- The Shortlist will be interviewed by the judging committee in March 2024.
For inquiries please contact:
fashiontrust@britishfashioncouncil.com