Chanel Launches Global Culture Fund

French luxury brand Chanel has announced the establishment of a global fund to help innovators in the art world.

Titled 'Chanel Culture Fund' its aim is to advance ideas and expand representation by giving new impetus to culture, more particularly contemporary artists, heavily affected by the Coronavirus health crisis. It is aimed at all artists from all backgrounds, whether music, dance, performances or even the visual arts.

The Fund will focus on two main areas: Chanel Next Prize and cultural partnerships. The former will fund ten award-winning artists up to 100,000 euros in order to support them in their projects while offering them mentorship and networking through a community curated by Chanel. The latter comprises of inspiring new perspectives through partnerships with leading global cultural institutions such as Center Pompidou in Paris, The National Portrait Gallery in London, The Underground Museum located in Los Angeles or the GES-2, and a contemporary art center in Moscow.

'At a time when we are navigating our way through complex new environments around the world, we know that artists generate transformative ideas that help us envision the way forward. Chanel has always championed the vitality and advancement of the arts, and we now expand that tradition through the Fund with a focus on supporting cultural innovators and path-breakers who are mapping out what's next,' Yana Peel, Global Head of Arts & Culture at Chanel said in a statement.

The new fund builds on Chanel's hundred-year history of cultural patronage in the arts and embodies it's conviction that individual creativity is an inexhaustible source of innovation.

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