What: Saks has launched the second year of its emerging designer accelerator programme, ‘The New Wave,’ featuring eight new brands.

Why is it important: The accelerator programme was launched last year to develop and support high-potential independent brands in accelerating their growth at the designer retailer, as well as across the fashion industry, with an emphasis on BIPOC talent.

Saks has selected six designers that are Black, Indigenous, or people of colour, as part of its diversity, equality, and inclusion roadmap to increase total sales of Black-owned, -designed, or -led brands by nearly 100 million US dollars by 2023.

Each designer taking part in the accelerator will be eligible to receive a 10,000 US dollars grant to support their business operations and growth, alongside dedicated marketing support from Saks. The retailer also added that the programme will also offer an onboarding bootcamp, cross-functional advisory sessions with leaders from across the Saks business, roundtable sessions with industry experts and designers and access to workshops to support brands with small business know-how.

Saks’ accelerator program ‘The New Wave’