Designers to Gain Through FashionTT’s VCIP Open Call
Photo Caption: l-r: Jason Lindsay, Chariman of FashionTT; Lisa-Marie Daniel, Generel Manager of FashionTT; Vincent Quan, 2017 VCIP Consultant and Lisa Sinanan, FashionTT Board Member.
Port of Spain, 13th March 2018: The Trinidad and Tobago Fashion Company Limited (FashionTT) invites applications for the second cohort of the Value Chain Investment Programme (VCIP). This programme is aimed at providing designers strategic assistance to improve their business performance at varied stages of development.
Since its commencement in 2016, the VCIP has been the cornerstone of the Strategic Plan for the Fashion Industry. The VCIP assesses local firms by an independent international panel and categorizes each firm into one of the four levels of the programme:
- The Global Value Chain (GVC) Support Programme
- Non-Global Value Chain (non-GVC) Support Programme
- Incubator Programme for New/Young High Potential Companies or Partnerships
- Firms that are Earmarked for Future Support
The General Manager of FashionTT, Ms Lisa-Marie Daniel, stated “the fashion industry is filled with a vast array of creative professionals and this programme is meant to hone these innate talents and produce fashion designers who are focused on the business of fashion and not only the craft/talent side.”
In 2016, a panel consisting of three fashion industry experts, founder of Geoff & Company, Geoff Cooper and professors at the Fashion Institute of Technology in New York, Raymond Wong and Vincent Quan, interviewed various designers before allocating them to their respective level in the programme.
FashionTT partnered with the National Entrepreneurship Development Company Limited (NEDCO) to deliver the third tier of the VCIP, the Incubator Programme. The programme is a collaborative initiative designed to enhance the products and services of local fashion businesses. It examines and identifies gaps in designers’ business model, structure and operations, so that solutions can be addressed for a more sustainable business. A total of 11 designers benefited from being a part of the programme.
Also selected by the panel of fashion experts was the first ever cohort of five designers to participate in the second tier of the VCIP, the Non-Global Value Chain (non-GVC) Support Programme; Ecliff Elie, J Angelique, Charu Lochan Dass, Millhouse and Ted Arthur Leather Collections. Each designer was presented with the opportunity to meet one on one with Vincent Quan, the VCIP consultant, to gain valuable advice and guidance on their firm’s business strategies. Professor Quan identified gaps which needed to be bridged by each firm and provided customized plans and attainable goals for over the programme’s five-year period.
With the support from FashionTT and the guidance of professor Quan, each designer was able to make noteworthy advancements under the VCIP programme in the areas of social media presence, business planning and growth, and technology.
Daniel explains, “It is never an easy road to travel but it is a rewarding one. FashionTT will continue to do its part in helping develop our local designers, and the industry as a whole, through VCIP. We hope that stakeholders take advantage of this open call and apply.”
All designers interested in obtaining funding from FashionTT during the fiscal are required to participate in this open call and interview process.
For more information, or to apply, visit www.fashiontt.co.tt/VCIP or call 622-1455.