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The season of giving may be over, but Coach is still paying it forward: WWD reports that the leather retailer has pledged $500,000 to the Fashion Manufacturing Initiative (FMI), a program founded by Theory's Andrew Rosen in 2013 that supports fashion manufacturing in New York City.
"Since our founding as a loft-maker of leather goods in New York nearly 75 years ago, the city has been part of the Coach culture," CEO Victor Luis told the paper, "and its spirit is central to all that we do."
The FMI began as a way to "invest in equipment, improve on real estate and working conditions, recruit and retain skilled labor, and centralize the information needed to produce in New York," and since its founding, has added Ralph Lauren as premier underwriter, who will now also be joined by Coach's Luis.
De Blasio's New York is looking to be quite the fashion-friendly environment—he's supported the CFDA's Fashion Incubator program, has designated a liaison to the fashion industry, and the City of New York has donated $1 million to the FMI. The city has also invested $3.5 million for a new fashion incubator in Sunset Park, construction for which is scheduled to begin next month.