On Monday evening, we were invited at the French Public Bank of Investment (Bpifrance) to celebrate the future of FashionTech. After a session of conferences and panels on how to reinvent French Creation, or Investing in a Fashion label, Pascal Morand, the new President of the French Couture Federation (FFC) announced a partnership between IFM (the French School of Fashion) and Bpifrance to support young fashion labels.
Drawing 300 industry players, the FashionTech dedicated evening at Bpifrance was a breath of fresh air for us. Beyond the content of the conferences and panels (which were great by the way, including an insightful talk about the young French jewelry brand Gemmyo), the most interesting information was brought by the French Couture Federation‘s new President.
To give you a little background, FFC is the organization behind Paris Fashion Week, which is in contact with and supporting fashion labels in Paris. Its new President, Pascal Morand, was appointed at the end of 2015 to lead the historical federation. What’s interesting and says a lot about what’s about to come to Paris Fashion? His background.
Before taking his role at FFC, Morand was previously the General Manager of IFM (which, by the way, is presented as the 7th best Fashion MA Course by the Business of Fashion), Professor at the very well ranked ESCP Europe (which has its own Chair for Fashion & Technology), he was previously Deputy General Director of Paris Chamber of Commerce to name a few of his impressive experiences. And most of all, he has a background in Tech! Indeed, Morand is a member of the French Academy of Technology, a public institution for Technology research; Director of the i7, Institute for Innovation and Competitiveness of ESCP Europe; he co-wrote a book on Innovation, and more… Having him at the helm of Paris Fashion is a blessing, because he understands the stakes of innovation in Fashion and is more than willing to inject this in the Parisian industry.
A new Fashion Incubator in Paris to support French emerging creative brands
The agreement aims to support and accompany the French creative brands and firms to merge their Excellence savoir-faire with the innovation capacity of the French Tech.
On one side, Bpifrance is involved in the creative & cultural industries through their funds, one of them is dedicated to Fashion (Mode et Finance). The fund was designed to help creative labels with high potential for international growth. Another fund is dedicated to promote the Savoir-Faire d’Excellence, through support of the businesses helping the French manufacturing sector to stay ahead of the game thanks to its historical luxury know-how.
On the other side, the well-known IFM has its own program, IFM Labels, dedicated to support young designers with high potential. Amongst them our beloved Jacquemus, the it-brand Vetements and other successful young and dynamic labels shaking the Parisian creation such as Koché or the so-talented Yiqing Yin.
“The emergence of new French companies in the fashion and luxury industry is key for the economy as it represents a major economic driver for France and has always been a significant vehicle for its international outreach,” the two firms said on Tuesday.
Gathering their expertise and experience, IFM and Bpifrance will support young creative labels and help them grow. Needless to say we’re so excited by the news (and can’t wait to see how Morand will inject more innovative thinking in the French fashion industry)!