IMG, SGIA Collaborate to Expand Shenzhen Fashion Week - Women's Wear Daily
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IMG IN CHINA DEAL: IMG has linked with the Shenzhen Garment Industry Association (SGIA), in collaboration with the People's Government of Shenzhen Municipality, to expand Shenzhen Fashion Week. (SZFW).
The collaboration between SGIA and IMG looks to help SZFW become one of the top fashion weeks in Asia, and expand its presence on the world stage. IMG seeks to leverage its relationships with top media, models and designers to help international designers break into China and for Chinese brands to grow their businesses domestically and internationally.
Shen Yongfang, president of SGIA, said, “We highly respect IMG’s capacity in the fashion industry, with their international resources and advanced experience across the globe. That is exactly the reason why SGIA chose to cooperate with IMG; to jointly build Shenzhen Fashion Week. We look forward to welcoming friends from across the world to SZFW in March to witness a fashion festival that highlights domestic and international designers."
Catherine Bennett, senior vice president and managing director, IMG Fashion Events & Properties, explained, “A few years ago IMG was asked to host a show of a group showing of Shenzhen’s most promising designers at New York Fashion Week. Immediately following that show we knew that region’s talent pool deserved its own stage. We look forward to working with the local authorities in establishing this event as a gateway to upcoming Chinese talent.”
IMG owns, produces or represents 32 fashion events a year, including fashion weeks in New York, Milan, London, Berlin, Tokyo and Sydney.
Hosted by the People’s Government of Shenzhen Municipality and SGIA, the next SZFW will take place March 20 to 24 at OCT Bay in Shenzhen.
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Fashion Project raises $7.2 mln from investor group - Thomson Reuters' peHUB (press release)
Fashion Project, an online clothing donation company, has raised $7.2 million in Series A funding from a group of investors. Investors in the funding round include Second Time Around, Simon Venture Group, Burch Creative Capital, Robert Hall of Vera Bradley, RiverPark Ventures, Schooner Capital and Abundance Partners. Fashion Project donates the majority of net proceeds of each sale to the charity of the donor’s choice.
Press Release
Fashion Project, the leading online clothing donation destination today announced the company secured $7.2 million in Series A funding from a group of private investors including Second Time Around (STA), Simon Venture Group, Burch Creative Capital, Robert Hall of Vera Bradley, RiverPark Ventures, Schooner Capital, and Abundance Partners. This funding marks the largest investment in the two-year-old startup to date. Funds are earmarked for growing its workforce, facilities expansion and increasing its charitable partner network.
Since its inception in 2012, Fashion Project has grown significantly year-over-year. In Q3 2014, the company recorded 300 percent growth across all aspects of business. This latest round of funding enables the company to grow its workforce and strengthen marketing, technology and operational infrastructures. Plans also include the addition of a new warehouse facility and photography studios that will triple the amount of merchandise listed daily and enhance the shopper experience. Finally, the brand will more than double its network of charity partners, providing non-profits with funding for much-needed tools and resources.
“Fashion Project is an innovative company that’s disrupting clothing donation and making it better through transparency and monetization,” said STA CEO Kristin Burrows. “Our businesses are complementary, and together we can offer a broader portfolio of services. We’re thrilled to help Fashion Project attain the resources they need to scale operations and are tremendously excited for the growth that lies ahead.”
Fashion Project, which donates the majority of net proceeds of each sale to the charity of the donor’s choice, supports more than 2,000 non-profits and has raised over $400,000 for charities including Dana Farber and The Jimmy Fund, Big Brother Big Sister, Dress for Success and Autism Speaks. The company has received 220,000 donated items including clothing from high-profile celebrities such as Heidi Klum and Chelsea Handler.
“The support from established members of the retail and consignment communities speaks volumes about their commitment to using fashion as a force for good,” said Anna Palmer, CEO of Fashion Project. “Christine and I started this company to raise as much money as possible for charity and this funding is the fuel we need to grow that impact from hundreds of thousands to millions of dollars per year.”
About Fashion Project:
Fashion Project is the industry leader in online clothing donation, and the ultimate shopping and donation platform for women who want to give back. At every touch point, both donors and shoppers have the opportunity to do something impactful for someone in need. Since its founding in 2012, FashionProject.com has worked with more than 2,000 non-profit partners and powered donation programs for the Council of Fashion Designers of America, Joie, Milly, Helmut Lang, and more. By focusing on maximizing the value of every item donated, FashionProject.com can raise up to 100 times more funds for charity than an average donation storefront. For more information on FashionProject.com, visit http://ift.tt/U056K6.
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