The FHCM increases financial assistance to young creators
PARIS – The Fédération de la Haute Couture et de la Mode, the governing body of French fashion, is stepping up its support for emerging designers with a new support fund launched primarily to help non-France-based designers who were previously not eligible for a funding.
With the help of industry players, the FHCM raised 500,000 euros to help young designers, in particular so that they could present their collections during Paris Fashion Week.
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“It’s difficult for emerging brands,” Pascal Morand, executive president of the Federation of Haute Couture and Fashion, said Tuesday at a press conference.
“This new initiative was born following the health crisis,” he said.
Young labels based in France can already obtain funding via DEFI, the funder of the FHCM’s Sphere program for emerging designers launched in 2019. DEFI, the French commission for the promotion of textiles and clothing, is investing 600,000 euros per year in the program.
“This support is extremely important for brands,” said Morand. “We decided that we had to offer financial assistance to brands not based in France or eligible for DEFI funding. “
Through Sphere, the Federation supports nearly 80 young brands throughout the year with advice, expertise, support and financing.
About fifteen of them participate each season in the Sphere showroom, which replaced the Designers Apartment initiative two years ago with the aim of creating a broader support system for emerging talents.
Since the launch of the new program, “total sales of the brands represented have grown significantly,” said Morand.
For its new Emerging Brands Initiative Fund, the FHCM called on member companies including LVMH Moët Hennessy Louis Vuitton, Kering, Chanel, Hermès, Maison Margiela, Richemont, Dries Van Noten, Ami Paris and Isabel Marant, as well as L’Oréal Paris, Sponsor and existing partner of Sphere, down clothing specialist Bosideng and catalog company La Redoute.
The organization has also created a selection committee with industry figures including Wendy Yu, Julie Gilhart, Herbert Hofmann and Jenke Ahmed Tailly to help with the international aspect of the program. Brands are funded on a case-by-case basis. In September, around 15 labels received financial support under the new program, Morand said.
To be eligible, labels must be less than 10 years old, independent and have less than 5 million euros in annual turnover.
The Sphere showroom at Palais de Tokyo, open from Wednesday to October 5, this season includes designers Alexandre Blanc, Benjamin Benmoyal, Christoph Rumpf, Germanier, Kenneth Ize, LGN Louis Gabriel Nouchi, Mossi and Thebe Magugu. Its digital portal includes Arturo Obegero, Blue Marble, Boramy Viguier, EgonLab, Mansour Martin, Uniforme and Valette Studio.
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