Kathy Hochul has announced that the governor of New York State will be partnering with IMG in order to implement a grant programme of $500,000 to help small independent fashion designers offset some of the costs associated with their New York Fashion Week productions (NYFW). This partnership is scheduled to begin September 2022.
IMG will manage and implement an application process to select ten grant recipients using criteria that IMG developed in partnership with Empire State Development.
In a press release, Governor Hochul stated that Fashion Week was a celebration and inspiration of New York as the fashion capital. As we recover from the pandemic it is important that we give priority to the recovery of New York’s dynamic and exciting fashion industry. We are strengthening the economy by partnering with New York’s best independent and small designers.
The grant program will support the return of New York’s fashion industry after COVID-19. It will also help to attract and retain New York Fashion talent and allow more small and independent New York-based fashion designers to take part in recovery efforts. Fashion designers in America’s fashion hub benefit from the opportunity to present new collections to buyers, media, industry, and consumer audiences.
Public and private sectors work together to restore and create new jobs in New York while supporting small businesses that have been impacted. Fashion, retail and creative sectors together are a major economic engine in New York State. The COVID-19 pandemic has disproportionately affected these industries. New York City’s fashion industry generated approximately $11 billion of total wages before the COVID-19 epidemic.
Leslie Russo, President of IMG Fashion Events and Properties Leslie Russo stated that “We are grateful for Governor Hochul and New York State’s continued partnership in supporting the New York Fashion Community.”
IMG created the Fashion Alliance in September 2021 to provide funding and support to a group New York Fashion Week independent designer brands until 2022. This new grant, funded by New York State, will provide additional support for more independent designers in New York.
