One foundation, two goals

Major Chinese retailer Bailian Group unveils a new foundation during the 2018 Fall/Winter Shanghai Fashion Week that is aimed at bolstering support for local designers and drawing the crowds back to physical stores

Bailian Group, China's leading retailer by sales, announced during the recently concluded 2018 Fall/Winter Shanghai Fashion Week (SFW) that it has established the Bailian Fashion Foundation with an initial investment of 100 million yuan ($15.9 million).

Chen Yijun, managing partner of this foundation, said that this investment could grow to 500 million yuan by the end of this year.

Some of the foundation's goals would be providing financial and technical support to local designers and building a global team of fashion buyers. One of its major projects would be the establishment of a fashion school in partnership with the Italian Accademia Costume & Moda to bolster the quality of talent coming out of China.