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FAQS

Stage 2 new extended closing date for applications: Thursday 21 December 2017 (08:00 GMT).

Why have we extended the stage two application deadline?

Due to technical difficulties with some applicants’ emails. In order to keep the competition fair, we have decided to extend the deadline to 21 December 8am GMT.

What are we looking for in your brand video?

The faces behind the brands – tell us why you should win this prize and why you're perfect for ASOS. We want to hear about you, so remember to to talk about yourself, as well as your brand's purpose and any detail on your craftsmanship.

What do you mean by 'product source'?

This applies to your suppliers and factories, including raw materials, fabrics, trims or any wholesalers you work with. Do you develop product from scratch and which components do you buy in, if any? Please give us as much detail as possible.

What do you mean by 'annual sales'?

The cash value or total revenue from all your products sold between April 2016 and April 2017.

What do you need to know about wholesaling my brand?

Do you supply your product to be sold by any other retailers? If yes, do you use an agent to do this?

What do you mean by 'entry and exit price points'?

These are the the lowest and highest prices that a customer is paying for your product at retail.

What if I don't have all this information?

Don't worry – just provide as much information as you can to give us an understanding.

What do these terms mean?

· Turnover is the total of sales for the period (we are requesting the previous three years).

· Gross profit is the difference in value between the revenue generated by a product or service and the cost of producing it (generally includes things such as materials, distribution costs, labour costs and rent).

· Net profit (please state if it's pre- or post-tax deduction) is gross profit minus all the costs incurred in order to make that profit.

Who might be a stakeholder in my business?

Stakeholders are individuals, groups or organisations that are affected by the activity of the business. They include:

· Owners

· Managers

· Workers

· Customers

· Suppliers

· Lenders

Why has ASOS created this competition?

ASOS has a long history of supporting new design talent and emerging brands, but there is a clear opportunity to implement a more formal initiative and reach a wider pool of talent. As such, we will be creating this brand incubator initiative, which is called ASOS Fashion Discovery.

What is the prize?

At the end of the competition there will be two winners and each of them will receive from ASOS:

· £50,000 cash to be used to help each winner grow its brand;

· An edit of their brand’s collections to be sold on ASOS.com (and local language sites at ASOS’ discretion) for two consecutive seasons;

· 50 hours of mentoring split across up to five business functions: Retail, Marketing, Finance, Legal and Sourcing

· Editorial coverage on ASOS channels; and

· ASOS to create a digital fashion look book.

· The public will also have the opportunity to select via an online vote their “People’s Pick” from the shortlisted businesses. The Winner of the People’s Pick will receive an edit of their brand’s collection to be sold on ASOS.com (and local language sites at ASOS’ discretion) for one season. If the People’s Pick winner is also a winner of the main competition, the People’s Pick winner will receive £10,000 cash instead to be used to help grow their brand.

 

Who can enter?

This competition is only open to UK-based businesses (sole traders, partnerships and companies), that –

· Have been trading for less than five years as at 4 September 2017; and

· Operate a fashion brand (e.g. menswear, womenswear, unisexwear, accessories, footwear and/or jewellery, beauty brand or homeware brand (“Brand”). All other product extensions will not be taken into account for the purposes of this competition; and

· Sell new (i.e. not vintage or second-hand) and original fashion products.

Who can enter on behalf of a business?

Each business must nominate:

· A representative to enter the competition on its behalf (“Representative”); and

· Two key individuals (one of whom should normally be the Representative) to represent the business if it is shortlisted – including appearing in the Stage 3 photo/video shoots, panel session and (if selected as a winner) the Winners' Ceremony (“Key Individuals”). If a business is a sole trader and only has one key individual, this will be acceptable. If it is impossible for a Key Individual to attend one of these events they should give ASOS as much notice as possible, but ultimately (and to keep the competition fair) ASOS reserves the right to disqualify the business in its reasonable discretion.

All Representatives and Key Individuals must be members of senior management and/or directors of the entering business, have full authority to represent and bind the business, be over the age of 18, and be a resident of the UK. An individual can only be appointed as a Representative or Key Individual for one business.

My business has already entered the competition, can I submit another application for my business?
In order to be fair, we unfortunately only allow one application per business/brand. However if your business is not successful this time, it may be able to apply again next time.
What is the difference between business and brands application?

Entrants must be a UK-based business (sole trader, partnership or company) which operates a fashion, beauty or homeware brand. If your business operates multiple brands, it must select one brand to enter (have a read through the competition Ts&Cs to decide which is most appropriate!).


What happens once I have submitted my business's Stage 1 application?

After Stage 1 closes, our judges will select up to 75 businesses to go through to Stage 2 and become the “Longlist”. We will contact the Representatives of all Stage 1 entrants via email by 27 November 2017, to confirm whether or not they are on the Longlist. If your business is Longlisted, you must respond to us (in the way and by the date specified in our confirmation email), to confirm your acceptance to proceed to Stage 2.

How will you use my email address?
Once you start to apply, you will be required to enter an email address. We will use your email address to update your business on competition updates as well as to sync your application if you are successful in being selected to be part of the longlist in (and if you confirm your acceptance of being part of) Stage 2 successfully enter the second stage. Once you have submitted your application, you will not be able to add or amend anything (although please let us know if contact details change).
How do I make changes to my business's application?

You have to complete Stage 1 of the application in one go. Once you have submitted your business's application you will not be able to add or amend anything (although please let us know if contact details change).

When is my business's application officially submitted?
An application will only be entered into the competition once the representative has clicked “Submit” and received a confirmation of submission email.
What are the criteria that the judges will be taking into consideration to make their decision?

At all three stages of the competition, our judges and panellists will be looking for businesses and brands that:

· Are appropriate for the ASOS platforms – e.g. in terms of their values, relevance to 20-somethings and price point;

· Have a strong, high-quality online and social presence;

· Display originality, commerciality, personality and entrepreneurial flair – not only in their competition application, but also in their fashion collection, marketing content, and day-to-day;

· Have credible distribution channels and ability to supply for global sale;

· Show commercial strength, viability and an appreciation of risk management;

· Have a good understanding of how marketing and PR can build their business; and

· Can demonstrate that they will use the prize to grow their brand.

Our panel may also take into account customer feedback on the final shortlisted 10 businesses, although this will not itself determine our winners.

What are the criteria that the judges will be taking into consideration to make their decision?

At all three stages of the competition, our judges and panellists will be looking for businesses and brands that:

· Are appropriate for the ASOS platforms – e.g. in terms of their values, relevance to 20-somethings and price point;

· Have a strong, high-quality online and social presence;

· Display originality, commerciality, personality and entrepreneurial flair – not only in their competition application, but also in their fashion collection, marketing content, and day-to-day;

· Have credible distribution channels and ability to supply for global sale;

· Show commercial strength, viability and an appreciation of risk management;

· Have a good understanding of how marketing and PR can build their business; and

· Can demonstrate that they will use the prize to grow their brand.

Our panel may also take into account customer feedback on the final shortlisted 10 businesses, although this will not itself determine our winners.

Who are the judges?

At Stage 1 our judges will consist of senior representatives of the ASOS Retail and Fashion teams.

At Stage 2, ASOS Retail and Fashion judges will be joined by representatives from other ASOS business functions including Finance, Legal, Sourcing and Marketing.

At Stage 3, the panel will consist of:

· Jo Hunt (Womenswear, Head of Buying);

· John Mooney – Creative director, menswear and production at ASOS;

· Nick Beighton – CEO at ASOS;

· Hilary Riva OBE – Non-executive director of ASOS Plc and former CEO of the British Fashion Council;

· Gemma Shiel, Founder of Lazy Oaf;

· Susie Lau, Founder of Susie Bubble;

· Katie Baron, Journalist & Creative Consultant , Stylus; and

· Elgar Johnson, Fashion Director at GQ Style 

At each stage, the judges/panel will also include at least one individual who is independent from ASOS, whose name will be available on request by sending an email to asosfashiondiscovery@asos.com with “ASOS Fashion Discovery Competition Independent Judge” in the subject line (the email address will close two months after the Winners' Ceremony).

Where can I find more information about this competition?
Hopefully all the answers to your questions are in these FAQs and in the competition Ts&Cs. However if you have questions that remain unanswered please email: asosfashiondiscovery@asos.com
What are the key dates and deadlines?

This competition has 3 stages. Full dates for each stage are set out in the competition Ts&Cs, but please note the following in particular:

·Stage 1 closes on Monday 30 October 2017 (08:00 GMT). We will confirm to each entrant by 27 November 2017 whether they have made the Longlist.

·Stage 2 (only open to Longlisted businesses) will open on 27 November 2017 and close on the extended deadline of 21 December 2017 (08:00 GMT). We will confirm to each Longlisted business by 20 January 2017 whether they have made the shortlist.

·Stage 3 (only open to Shortlisted businesses) will involve (a) number of meetings and photo/video shoots both in the Shortlisted businesses’ offices and at ASOS HQ (or at some other central London location) between 22 January 2018 and 16 February 2018 and (b) a panel session with our judges in a central London location on a date (TBC) between 30 April 2018 and 4 May 2018. Key Individuals of Shortlisted businesses must be available for these dates (ASOS reserves the right to disqualify entrants for non-attendance).

·We will contact all Shortlisted businesses by 4 May 2018 to confirm whether or not they are a winner. Our winners will be announced publicly at a Winners' Ceremony on date (TBC) between 7 May 2018 and 11 May 2018 in central London. Key Individuals from the winners must be available to attend the ceremony.

·Public voting for the People’s Pick will open on 16 April 2018 (08:00 GMT) and close on 30 April 2018 (08:00 GMT). The winner of the People’s Pick will be announced on 4 May 2018.

Will I or my business need to sign anything as part of entering the competition?

There are a few documents to be aware of:

· By entering the competition, each business Representative confirms on behalf of their business that they have read and that their business agrees to the competition Ts&Cs.

· Shortlisted businesses must keep the outcome of the competition confidential until the Winners' Ceremony. They will therefore need to sign a non-disclosure agreement.

· Like all of ASOS’ branded suppliers, the winners will need to sign an ASOS branded supplier agreement. We will send a draft agreement to all Shortlisted businesses, and acceptance of the prize will be deemed acceptance of the supplier agreement.

Who can I contact if I have questions?
Hopefully all the answers to your questions are in these FAQs and in the competition Ts&Cs. However if you have questions that remain unanswered please email: asosfashiondiscovery@asos.com
Why is this competition only open to UK businesses?
The competition is UK only this year, but as ASOS is a global fashion destination there is potential for us to roll out similar initiatives in key territories in the future.
My business is sold on ASOS Marketplace, can it enter?
Yes, businesses listed on ASOS Marketplace (a separate platform to ASOS.com, where independent third party boutiques sell direct to customers) can enter the competition. However, like all entrants and order to be fair, you won’t be able to get any help with your business's entry from any ASOS Marketplace contacts (or anyone else at ASOS or involved in the competition). Any entrant found to have tried to gain an undue advantage in the competition (including by a Representative or Key Individual or other business employee, director, consultant/advisor, or contractor asking for assistance with their application (at any stage in the competition) from any contact at ASOS or a competition judge) may be disqualified.
My business is a supplier of ASOS, can it enter?
Unfortunately this competition is not open to current suppliers of ASOS (branded and ASOS own-branded).
I am an employee of ASOS, can I enter my business?

To make sure the competition is conducted fairly, we cannot accept applications from businesses that are professionally connected to ASOS or a competition judge (either directly or indirectly). We therefore have to exclude businesses where a director or member of senior management (which will include all Representatives and Key Individuals) is:

· An employee, director, consultant/advisor, or contractor of/to a company within the ASOS Group, or is directly involved in the competition (including judges); or

· A husband/wife/partner or family member of the same household of - (i) a member of senior management of a company within the ASOS Group (i.e. Heads Of or above, including Board Members); and/or (ii) anyone directly involved in the competition (including judges).

Also excluded are businesses that are professionally connected to a competition judge, i.e. the competition judge, or a close family member (husband, wife, partner, mother, father, brother, sister, son, or daughter) of the competition judge, is an employee, director, member of senior management, consultant, contractor, advisor to, or investor in, the business.

If I am a shortlisted finalist, will ASOS cover my expenses?

ASOS will cover standard return train travel to London (or equivalent transportation agreed in advance by ASOS) for the Shortlisted business's Key Individuals, to attend (a) photo and video shoot at ASOS HQ, and (b) panel session. We will also cover standard return train travel to London (or equivalent transportation agreed in advance by ASOS) and standard overnight accommodation (accommodation to be arranged by ASOS) for the winner’s Key Individuals, to attend the Winners’ Ceremony. Subject to this, any costs and expenses that you or your business incur in entering the competition shall be at your business's own cost and expense.

It’s worth noting that being a supplier to ASOS is likely to involve additional costs, which the winner will be responsible for. For example, all ASOS suppliers need a public liability insurance policy (of a level acceptable to ASOS) and need to comply with ASOS’ ethical/ CSR, sourcing, and delivery requirements.