to benefit those in the American fashion industry impacted by the crisis, has announced the recipients of its first round of grants. After sorting through some 800 applications, the 10-person committee, which included Thom Browne president Rodrigo Bazan; 3.1 Phillip Lim CEO Wen Zhou; and’s Mark Holgate, chose a mix of famous and unfamiliar names spread across the country from New York to Los Angeles.Fashion Fund best-of-all-time grant,” CFDA President Steven Kolb said yesterday.
“It’s about putting cash back into the system,” Kolb explained. “It could be a store who has invoices that haven’t paid for delivered merchandise, a brand that owed money to a factory for work that was done, or another brand that didn’t get PPP [Paycheck Protection Program] money. You’re paying one that’s paying another; it feeds the ecosystem of fashion.” The CFDA isn’t sharing figures about who will receive what, but this first round will distribute approximately $2.
Kolb acknowledged that the micro grants are no guarantee that these designers, retailers, and factories will overcome the challenges of running a fashion business in a post-pandemic world, but the committee did make its selections with an eye to future success.
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