Wave goodbye to The British Fashion Awards, for they are making way for a glitzier, grander format that will be known as simply The Fashion Awards.
It will honour international talent from both the creative and business sides of the industry, rather than focussing on British talent as it previously has done.
The revamped event will also act as a fundraising gala for the British Fashion Council Education Foundation charity, raising significant funds for fashion education scholarships to help the best talent attend leading fashion colleges.
This aspect aligns it more closely with the annual Met Gala (which takes place on May 2), which raises money for the Metropolitan Museum of Art's Costume Institute in New York.
And, just like the Met Gala – often considered the Oscars of the fashion world - it sounds like we can expect an epic red carpet.
‘We aspire to create an event that is like a mix of the Academy Awards and the Met [Gala], on a global scale,’ Dame Natalie Massenet, chairman of the BFC, told BoF. ‘It’s going to be the most sweeping, beautiful, magical, sparkly, twinkly, elegant red carpet you’ve ever seen.’
The first will take place in the iconic Royal Albert Hall on December 5. Half of the 3,000 seats in the venue will be available to the general public, with tickets going on sale on May 3 - you can purchase tickets here.
The event is made possible by sponsorship from Swarovski.