By  on June 3, 2016

The Fashion Institute of Technology and New York City Economic Development Corp. have revealed 24 New York City-based fashion companies chosen for the 2016 class of Design Entrepreneurs NYC, a free, intensive “mini-MBA” program that teaches emerging designers how to run a successful label. DENYC was created through a partnership between NYCEDC and FIT in 2011.

One hundred thousand dollars will be awarded to the company that presents the most outstanding business plan, and $50,000 will be awarded to the second-place company. Both are expected to use the funds to implement their business plans. Through the leadership of founding sponsor G-III Apparel Group Ltd., companies that support the program include Hudson’s Bay, Herman Kay, Kenneth Cole Productions, Cole Haan, Leeds Family Foundation, Lafayette 148, YM Fashions, Bank of America, Frederick Goldman, Marcraft Apparel Group and Ross Stores.

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