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 (15th January 2025).
- 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.
- Applicants currently in NEWGEN first year or second year are not eligible to apply. Only brands currently in their third year of NEWGEN can apply. Brands that have never been in NEWGEN must adhere to 3+ years in business criteria.
- Please note that applicants are not eligible to be awarded more than one BFC initiative per year. Therefore, applicants who are shortlisted or selected to win more than one initiative will not receive the pro-bono mentoring, legal support and financial grant (if applicable) of the lower value of the two initiatives.
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.
- Applicant’s ability to demonstrate a clear vision on how the funds will empower a positive growth of their business, and articulate how projects align to their broader strategy, showing 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 should be showcasing at London Fashion Week.
- The applicant’s statement on their business's sustainability efforts, either planned or in delivery, on topics including: decarbonisation and net zero, biodiversity and nature, sustainable manufacturing methods, social sustainability, DE&I, circular economy including circular design and new business models, end-of-life, and customer education on sustainability.
- Quality and completeness of application form.
APPLICATION PROCESS
Applications are now open, click here to apply. Deadline to apply is 15th January 2025 5pm GMT.
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).
- The applicant’s statement on their business's sustainability efforts, either planned or in delivery.
- 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. All information supplied will be treated in the strictest confidence and stored securely and accurately in accordance with our Data Policy (which you can find here: https://www.britishfashioncouncil.co.uk/Policy), and will not form part of the judging process. Certain questions on this form are intended to help us maintain equal opportunities best practice and identify and address barriers in the industry to diversity, equity and inclusion. Your personal details will not be divulged to, or shared with, any third party or used for any other reason than to measure the impact and success of this project. If data or insights collected from special category data are shared with such third parties, it will always be on an aggregated anonymised basis.
JUDGING PROCESS
- Applications will be reviewed and shortlisted by a judging panel consisting of industry experts and funding representatives.
- Applicants will be informed if they have been shortlisted in March 2025.
- The Shortlist will be interviewed by the judging panel in March 2025.
For inquiries please contact:
fashiontrust@britishfashioncouncil.com