Chairman of Arcadia Group, Sir Philip Green, is setting up a £100,000 fund for the students of Fashion Retail Academy (FRA) who want to start a business.
The academy celebrated its 10th year at the FRA Awards last night which is where the British billionaire announced his plan.
Students, teachers and some of the FRA’s retailer supporters such as M&S, Next and Experian were there to see the announcement.
Tony Blair also attended to support the event, as he was prime minister when the FRA first opened.
Sir Philip Green said: “So many people come up to me with ideas. I’m going to put up £100,000 as a kitty, which will offer some students the opportunity for a start-up. £10,000 to £20,000 may be the catalyst that helps them to succeed.”
To date, the Fashion Retail Academy has arranged 5,235 work placements for students and is preparing to introduce new digital qualifications for 2016 including Level 4 Digital Skills for Retail and Levels 3 and 4 Digital Marketing. They have also announced plans to double its intake of students over the next three years from 800 to 1600.
“The success rate of the students is testament to our tutors who do a fantastic job every single day. We now look towards the future of the FRA in this digital era. The industry is changing and we want to find and support future innovators of the fashion world.” Said Sir Philip Green.
