China’s largest retailer has also been named an exclusive retail partner of London Fashion Week.
The winner will be announced on May 1 and will receive mentorship and a cash prize.
There will be industry talks in partnership with BBC Earth and catwalk shows.
Emerging designers Nicholas Daley, Paolina Russo and Priya Ahluwalia will present their designs at Garage Amelot on Jan. 18.
Training and mentorship programs will be provided alongside 32 new studios and workshops.
The winners were announced during an event at the home of Megha Mittal.
The talk was all business, and not Prince Harry’s wedding on Saturday.
Tommy Hilfiger, Mary Katrantzou and Peter Pilotto were sipping cocktails with the Chinese online retailer and the BFC/Vogue Fashion Fund.
The designer will work with the British Fashion Council and fashion students in the U.K. to create a capsule collection for spring 2018.
Eleven London brands will share grants totaling $450,000 pounds.
This is the first year that the prize went to more than one winner.
The platform, which offers e-commerce, will launch brands including Poan, Iva Ksenevich Millinery, JN by JN Llovet, LubiMenya and Naked Bruce.
The dinner at the Peninsula Hotel was hosted by Antonia Romeo.
Prize money will be divided between three winners, rather than one.