The Fashion Manufacturing Initiative (FMI) is an investment fund to help revitalize New York City’s garment industry. The matching grant competition program will offer both in-kind and financial assistance to New York City’s top fashion manufacturing production facilities looking to grow and sustain their business through the acquisition of innovative equipment, advanced technology, workforce training and professional development programming. FMI was developed and will be managed by the Council of Fashion Designers of America (CFDA), and will operate under the leadership of Andrew Rosen, President & Founder of Theory, in partnership with the New York City Economic Development Corporation (NYCEDC).
FMI Applicants Must:
- -Be in business for a minimum of two consecutive years;
- -Be a factory/production facility within the fashion apparel/ accessories industry;
- -Be located in one of the five boroughs of New York City;
- -Have support/ business (i.e. orders) from key fashion designers/ brands;
- -Be equipped with staff that can devote the time and effort required to accomplish the stated aims of an applicant’s plans.
FMI Lead Underwriters as of February 2014
- Founding Partner: Andrew Rosen and Theory
- Premier Underwriter: Ralph Lauren
- Sponsor: Rue La La
- Patron: rag & bone and Precision Custom Coatings
- Supporter: CIT, Alvanon and Lectra
- Donations by: Save the Garment District and Project Gravitas