THE WHAT? Chanel has announced the launch of a new fund designed to support ‘cultural innovators’. The global program will work with international museums and institutions to advance greater representation in culture and society.

THE DETAILS As part of the fund, the French fashion label is launching the Chanel Next Prize – individual awards of €100,000 to 10 artists – in music, dance, performance and the visual arts – who are radically redefining their fields.

Chanel will also commit to a series of long-term partnerships with leading cultural institutions around the world to create new programmes to support innovation in creative and cultural thinking. Among them, The National Portrait Gallery in London, LA’s Underground Museum and The Centre Pompidou in Paris.

THE WHY? The Fund seeks to champion equality of voice and give visibility to global gamechangers at a time when the arts provide a vital source of inspiration and shifting perspectives on the way we view the world, Chanel said.