The future of fashion: 7 grants, fellowships, and scholarships funded by luxury giants for entrepreneurs who want to break into fashion and retail

• Big fashion companies such as LVMH and Gucci have created programs to help inspire the next generation of entrepreneurs - especially those going into the retail sector.
• Earlier this year, Gucci created the Gucci Changemaker Scholars, which seeks to give $20,000 to a high school student in need of financial assistance who is from an underrepresented community or is hoping to attend a Historically Black College and University.
• Meanwhile, LVMH has partnered with various schools across Europe to start the LVMH Institut des Métiers d'Excellence, a vocational and apprenticeship program seeking to train those going into the luxury sector.
• But those aren't the only companies that have launched fellowships and scholarships for entrepreneurs - keep reading to discover seven programs aimed at training the next generation of fashion leaders and thinkers.
• Visit Business Insider's homepage for more stories.

Fashion: It's often expensive to buy, and sometimes even more so to make. Luckily, these fashion brands and companies understand what fashion entrepreneurs go through, and have been more than willing to give back to those who are on their journeys to the top.

For example, LVMH - the largest luxury goods company in the world - created L'Institut des Métiers d'Excellence, a vocational and apprenticeship program that trains the next generation in fields such as jewelry making and culinary arts.

Earlier this year, Gucci launched two scholarships under its Gucci Changemakers Scholarship Program in North America: Gucci Changemaker Scholars and Gucci Changemakers x CFDA Scholars by Design Program, in partnership with the Council of Fashion Designers of America, both of which seek to give $20,000 fashion scholarships to those from underrepresented areas.

But they aren't the only ones preparing the next generation for the future of fashion. Business Insider rounded up seven grants, fellowships, and scholarships to be on the lookout for; the programs offer a combination of funding, networking, and exposure opportunities. Entries are arranged in increasing order of the size of the grants.