Asos has partnered with The (Fashion) Minority Report to launch a scheme aimed at helping ethnic minority-owned brands access funding and support.
The incubator programme, called scaleup, is designed to help remove the barriers that Black and Asian people face when setting up and running businesses.
Research from the London Chamber of Commerce of Commerce finds that ethnic minorities have lower success rates than their white counterparts when trying to launch a new company.
The programme will provide two participants with guidance and mentorship from industry experts, the opportunity to launch a collection on Asos and the chance to pitch for up to £20,000 of funding to scale their business.
Five additional fashion brands will have the chance to benefit from workshops, talks and the opportunity to have their business featured in the scaleUP buyers showroom.
Commenting on the news Vanessa Spence, senior creative director at Asos, said: “Asos is passionate about enhancing diversity within the fashion industry by dismantling the obstacles encountered by ethnic minority-owned brands.”
She added: “We want to both empower established businesses with a promising vision and nurture emerging talent seeking that extra boost to get into the industry. Through ScaleUP, we’re searching for vibrant, captivating brands that resonate with our fashion-loving Asos customers and are highly trend-led, relevant, and fashionable, at accessible prices."
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