Digital payments giant Visa has team up with the London College of Fashion to launch ‘Recycle the Runway’, an initiative designed to support the next generation of fashion entrepreneurs to reach their full potential.
A new initiative from its global Visa Young Creators series, the company is inviting those who are “early in their careers and committed to circular practices” to apply.
Six successful finalists, including one grand prize winner, will receive individual grants from a total prize pool of £20,000, access to mentoring from industry experts during the competition, as well as the opportunity to be recognised by The London College of Fashion, UAL.
Visa said its “ambition is to encourage creators to reimagine how they design, produce, and sell fashion, making recommerce – the regenerative way to buy, re-use and share goods and services – desirable and habitual to accelerate economic growth”.
Artist and social media celebrity Sophie Tea has teamed up with Visa to encourage designers to get involved, saying: “Creativity has always been my thing: taking ideas and turning them into something real and meaningful, I love a story. The Visa Creators Recycle the Runway initiative [is] an amazing chance for creators to bring their talent to life while celebrating those who make reusing and repurposing a priority.”
Applicants must be at least 18 years of age and based in the UK and be able to demonstrate “how their design-led business embraces circular business models to align with at least one of the ‘R’s of circular fashion—repair, resale, return, redistribution, rental or refill”. They must also have an early-stage start-up business with a minimum of one year in operation.
The initiative will culminate in a high-profile runway show taking place in Central London on 22 May, where finalists will present their designs to a panel of judges including Tea as well as representatives from Visa.
Katherine Brown, VP, Head of Social Impact & Sustainability, Visa Europe added: “Through our Recycle the Runway initiative, we’re excited to celebrate fashion creators who are embracing this change and to help provide the tools they need to grow through circular business models. By making circular fashion more accessible, and rewarding, we can help these small businesses thrive.”
Full line up of judges to be announced on Earth Day, 22 April and the closing date is 8 May.
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