LVMH is pledging $500 million to fund Middle Eastern designers

The announcement was made during the Fashion Futures conference
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LVMH is pledging $500 million to fund Middle Eastern designers

Luxury French fashion conglomorate LVMH has pledged $500 million to the Saudi government to help fund fashion designers in the Middle East.

The Asia Growth Fund, which will focus on the Middle East, was announced by Group Chairman for South Asia, South-East Asia, Australia and the Middle East, Ravi Thakran during the Fashion Futures event which is currently taking place in Riyadh.

Hosted by the Ministry of Culture and held at the Cultural Palace in Riyadh’s Diplomatic Quarter, Fashion Futures is the first of its kind in the country, and will see fashion’s digital disruptors, design mavericks and inspiring leaders discuss their careers and engage in debates, hands-on workshops, masterclasses, and Q&A sessions during the special two-day event.

With sustainability at the heart of its initiative, the conference will see some of the most important people in fashion, globally and regionally, discuss the future of the fashion industry and some of its most pressing concerns.

It is also hoping to foster new fashion talent in the kingdom, and promote Saudi designers on the international stage.

Grazia Middle East’s Editor in Chief, Alison Tay, is one of 10 journalists worldwide who have been invited to the kingdom to attend the exclusive event.

Photos: Instagram