NEW YORK — Barneys New York and Kellwood Co. have signed on to become corporate underwriters of the Council of Fashion Designers of America/Vogue Fashion Fund, which has just reached the halfway point in its $5 million capital campaign.
The fund was established last September, with a $1 million contribution from Vogue, to offer financial assistance and business mentoring to emerging designers selected through an annual contest. More than 140 designers have submitted preliminary applications to be considered for the first award, the recipient of which will be announced in September. The deadline for preliminary applications is April 16.
The CFDA and Vogue are continuing to solicit underwriters for the fund, which requires a minimum pledge of $500,000, said Peter Arnold, executive director of the CFDA, who detailed some changes in the format of the first award. In its first year, the award will be presented to one designer, rather than two — and the amount granted will be up to $200,000.
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“We felt that it was best for the first time out to focus on one designer,” said Arnold, noting that, as the annual project develops, more designers will be considered.
Representatives from Kellwood and Barneys also have been appointed to the selection committee that will review applicants and select the recipient of this year’s award. Narciso Rodriguez; Robert Duffy, president of Marc Jacobs, and representatives of Vogue and the CFDA also will participate on the committee, Arnold said.
“When Anna Wintour approached us about this, it took us less than 24 hours to decide we wanted to be involved,” said Howard Socol, chairman, president and chief executive officer of Barneys. “It’s the heritage of Barneys to nurture and bring on young talent in our store, and we couldn’t think of anything that fits into our DNA more than this. We’re into it with all of our heart and soul.”
The selection committee, which will begin to meet in May, will choose roughly 100 finalists, who then will be asked to submit a more formal application. The ultimate winner will receive the cash prize, as well as structured business mentoring from a team of fashion industry professionals. Socol said he, executive vice president Judy Collinson and fashion director Julie Gilhart will each participate in the mentoring aspect of the award.
Preliminary applications, which can be obtained from the CFDA or at cfda.com, must be completed and postmarked by April 16, including a 350-word biographical statement and affirmation of the designer’s eligibility. Requirements include that the designer’s business be based in the U.S., be at least two years old, have a professional staff and demonstrable talent through editorial coverage and retail orders.