The Council of Fashion Designers of America (CFDA) and Vogue have announced the addition of five new contributors to the CFDA/Vogue Fashion Fund (CVFF), which each year awards prizes and year-long mentorships to emerging American designers. They are Carolina Herrera, Starbucks, thecorner.com-YOOX Group, Tiffany & Co., and Tommy Hilfiger. Additionally, J. Crew is the new partner.The CFDA/Vogue Fashion Fund was established in 2003 to help new American design talent to be successful in the fashion business. Every year, the winner and runners-up each meet regularly with a business mentor, based on their specific needs for business expertise and resources; meetings take place on a monthly or as-needed basis. Additionally, the winner and runners-up receive cash prizes - in 2010 the prize for the winner was increased to $300,000 and to $100,000 for each of the runners-up. The cash awards are designed to encourage and enable emerging designers to pursue design plans.
Designers who have benefited from the fashion fund include 2010 winner Billy Reid and runners-up Eddie Borgo and Prabal Gurung, as well as 3.1 Phillip Lim, Albertus Swanepoel, Alexander Wang, Derek Lam, Doo.Ri, Monique Péan, Patrik Ervell, Philip Crangi, Proenza Schouler, Rodarte, Rogan, Sophie Theallet, Thakoon, Thom Browne, and Vena Cava.
The application process opened yesterday (21 March) and closes on 11 May. The application and more information can be found here.
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