Home Business Designer Fashion Fund Application & Criteria

BFC/Vogue Designer Fashion Fund Application & Criteria

1. Application Overview

Please ensure you complete the following four application steps:

  1. Designers will need to fill out the online application form. The deadline is Friday 17th October 2014.
  2. Send a copy of your business plan (including your end of year accounts)
  3. Tell us how The Fund will help 
  4. Send a copy of your portfolio 
See below for further information on points 2, 3 and 4.

Please ensure you have read the terms of entry and guidance notes before proceeding.


2. Business Plan

Please send a copy of your three year business plan to Marcos Eleftheriou (contact details below).
This should include, but not be limited to the following information:

Business overview:

  • Your current brand positioning and where you envision your brand in the future? (Who is your target customer? Who do you perceive to be your competitors? What differentiates your brand?) 
  • Short and long term goals and objectives 
  • Outline two or three major things that you believe your business requires to grow and succeed
  • What are the revenue and costs requirements to achieve three major things which will deliver growth?

Company information

  • Current organisational staff structure (including information on who in that structure is employed by the company and who is working on a freelance or work experience basis)
  • Consultants, outside advisors and professional organisations that you are currently working with 

Financial Information required in your business plan

 
a model wearing peter pilotto at the 2014 DESIGNER FASHION FUND selection day

  • Summary of financial accounts and forecasts include fixed costs, assets, total cost of salaries. Highlight any significant capital (e.g. equipment, stores, website) and revenue (e.g. marketing spend, catwalk, expenditure, staff and consultants) requirements
  • A copy of your latest end of year accounts
  • A clear outline of the major areas of revenue and cost
  • Cash flow projections (showing the working capital requirements of the business excluding the award from the Fund)
  •  Risks and opportunities
  • What other/additional sources of finance may be required to achieve the business objectives and how are these being pursued?
All financial and business information provided to the BFC Vogue Designer Fashion Fund will be kept strictly confidential and will only be used in connection with the selection process and will not be used by any of the judging committee outside of the selection process.

PR and Marketing Activity

  • Who looks after your PR and Marketing?
  • What has been the PR and Marketing strategy for your business over the past two years?
  • What coverage did you receive on your last two shows both in the UK and internationally?
  • What is your PR and Marketing strategy over the next two years?

Collection Information & Sales Strategy

  • How many collections do you produce a year?
  • How many pieces were in your last two collections?
  • What is your price range? Minimum and maximum (both wholesale and retail)
  • How do you price your collection?
  • How do you sell your collection in the UK and internationally?
  • What stores bought your collections over the past two years? Please make clear which stores bought for which season.
  • If you have a diffusion range please make clear which store bought mainline and which store bought diffusion.
  • What is your future sales strategy?
  • Do you have an own label UK shop? If yes please provide details.


3.  How the Fund will help

  • Submit a document outlining your future plans and how the Fund will help
  • Please set out a summary of how you see your business moving forward over the next two years and how you would use the Fund if you were to become the designer selected. 
  • As you are aware this Fund allocates mentors to assist you in business growth. If you could pick your ideal mentors, what skill or area of expertise would they have? You may list individuals as examples.
  • How would you propose to use the monetary component of the Fashion Fund should you receive the award?
Please bear in mind that two levels of support will be allocated. One designer will be awarded £200,000 for the year. Additional awards of mentoring and business support may be allocated at the judging panel’s discretion.


4.  Portfolio

  • Please send a portfolio presentation, containing work from your spring/summer 2015 collection which may include sketches, photos, editorial images, advertisements and/or videos.
Please send your Business Plan, 'How the Fund will help' document and Portfolio to:

Marcos Eleftheriou, Somerset House, South Wing, Strand, London, WC2R 1LA

Deadline for applications: Friday 17th October 2014.


For further information please contact:

Marcos Eleftheriou
Tel: +44 (0) 20 7759 1995
marcos@britishfashioncouncil.com


More in 'Application & Criteria'

Related news

Related articles