MONEY TALKS: British fashion designers will now have access to financial advice from the global bank HSBC as part of a new partnership with the British Fashion Council’s Fashion Trust.
As part of the tie-in, HSBC will offer mentoring and financial advice to the recipients of the Fashion Trust’s annual grant, while Daniel Howlett, HSBC’S head of large corporates, U.K. and regional head of client coverage, Europe, will join the Fashion Trust’s advisory board. The existing members include Helen David, Kim Hersov, Rana Tabiat and Nicoletta Fiorucci.
The first designers to work with the bank will be the 11 labels that scooped this year’s annual grant. As reported, the 2017 winners were Edeline Lee, Eudon Choi, Fyodor Golan, Georgia Hardinge, Huishan Zhang, Isa Arfen, Marques’Almeida, Osman, Rejina Pyo, Sharon Wauchob and Teatum Jones. As well as mentoring, the winners will share a funding package that amounts to 450,000 pounds.
Previous participating designers included Mary Katrantzou, Christopher Kane, David Koma, Erdem and Roksanda.
Howlett said that the bank wants to put its financial might behind British designers because of the global appeal of their business and the potential to help them grow further, given HSBC’s wide reach, which he said covers 90 percent of the world’s trade flow.
The partnership was revealed alongside a showcase of the designers’ works at Phillips Gallery in Mayfair.
The Fashion Trust is a charitable initiative that offers financial support and mentoring to British labels. It has been spearheading a number of partnerships in order to offer emerging labels access to expert business advice. Last year it also partnered with Farfetch, in order to provide designers with mentoring on the e-commerce and digital arenas.