• Social Impact

During 2021 we undertook a Social Value study looking at the social, economic and environmental impact that our parent organisation, the Fashion Retail Academy (FRA), creates for people, communities, businesses and economies.

The FRA changes lives, transforms and enhances careers, help businesses to succeed, and brings growth to the economy. Despite this being at the heart of what we do, it’s not always visibly narrated; our Social Value reporting aims to change this.

During 2019/2020 the FRA generated nearly £78m Social Value; for every £1 we spent, we generated over £7 in Social Value.

FRA Social Value report, 2019/2020

During 2019/2020 the FRA generated nearly £78m in Social Value through our mission to pioneer innovative education and training experiences that create and enhance careers, and nurture the next generation of retail talent. This means for every £1 we spent, we generated £7.02 in Social Value.

WHAT DOES THAT MEAN?

For the industry, we are securing a robust talent pipeline, ensuring a ready supply of the most skilled new entrants for high-value head office roles, or further training and developing existing workforces.

For students as beneficiaries, the FRA offers a unique and specialist education that directly propels them towards positive outcomes, be that higher levels of study or employment. Students travel from across the country to study with the FRA at all ages and life stages.

The FRA delivers inspiration at schools, careers fairs, Saturday Clubs, open days and many other touch points to shine a light on retail careers and dispel the myths that surround the retail industry.

Over the next five years, as the FRA and FRA Talent Lab continues to grow, we anticipate we’ll deliver over £1bn in Social Value, that’s £12 Social value for every £1 we spend.

FRA Social Value report, 2019/2020

Get in touch to find out more, or have a chat to see how we can work together to maximise social value and impact.