Frédéric Mitterrand, Minister of Culture and Communication, welcomes the creation of the first fund of repayable advances to young fashion designers, on the eve of the week of Parisian fashion shows.

This fund endowed with one million euros by the major fashion houses
Balenciaga, Chanel and Louis Vuitton, designed in partnership with the magazine
ELLE, whose Ministry of Culture and Communication has entrusted the
management at the Institute for the Financing of Cinema and Cultural Industries
(IFCIC), now allows young designers to benefit from advances
to finance the creation and production expenditure of their
collections.

With the creation of this fund, the Ministry of Culture and
Communication has developed a new tool for creators, which will
in addition to its training institutions in the fashion trades - the School
National School of Decorative Arts (ENSAD), the National School of Decorative Arts
of industrial creation (ENSCI) - to the residences of creators that it supports,
as the Villa Noailles in Hyères or the Maison de la Création in Marseille, and
the ANDAM prize, which is awarded every year rue de Valois.

Alongside the initiatives of the Ministry of Industry and Ministry of Economy and
the French Couture Federation, the Prêt-à-Porter, the
Fashion designers and designers, and the French Ready-to-Wear Federation
women, the Ministry of Culture and Communication participates in
to the development of fashion in France.