Emerge, create structure, and accelerate!
Three years ago I prioritized the goal of setting up a coherent, complete program to support emerging brands.
With the BPI France accelerator program established a few days ago, we can now say that goal has been accomplished!
One year ago I suggested the possibility of an accelerator to Nicolas Dufourcq, BPI General Manager. And today, over 30 businesses, including 10 Fédération members, join the accelerator within the framework of the Mode et Luxe Strategique Comité. I’d like to extend my thanks to DEFI, the CTC Group, and Francéclat for contributing to the program’s financing.
The accelerator’s mission is to give established and developing fashion businesses (between €2 and €10 million in turnover, over 10 collaborators, and doing business for at least three years) an opportunity to benefit from a 12-month individual and collective assistance program to boost their growth.
This new program is a complement to two other existing assistance programs created by the Fédération for young businesses in different stages of maturity: the Talents program for the youngest brands and the IFM Labels program for brands not yet mature enough to join the new BPI accelerator.
In addition to the Fédération teams’ task of monitoring several hundred brands on a daily basis,
the new Talents program has selected six promising brands. The two previous groups, thanks to support from the Fédération, DEFI, and Galeries Lafayette, participated in a pop-up store at Galeries Lafayette Haussmann during the September Fashion Weeks. Three other Fédération-member brands have also recently joined the IFM Labels group.
There’s still a lot to be done, but the challenge of helping new fashion brands emerge is important enough to demand effort from us all – through close cooperation and help from the other federations we are close to, from promotion and economic growth committees, and from public authorities. The new BPI accelerator is an example of this collective ambition.
How to finance young brands is also at the centre of our concerns. To help young entrepreneurs better deal with this challenge, we’ve produced a three-program series on the subject with the “Entreprendre dans la Mode” podcast.
The conversations are both in-depth and useful. Happy listening!
Episode #01 – La phase d’amorçage
Episode #02 – L’accélération
Episode #03 – La levée de fonds