The Brit’s are taking a cue from our successful CFDA/Vogue Fashion fund; Vogue UK and the British Fashion Council have teamed up for the sake of their country’s flourishing young design talent and formed the BFC Vogue Designer Fashion Fund.

Each year, the fund will award £200,000 to a fresh-faced designer, plus a mentor, to help him or her build a successful brand on “the international stage.”

Britain does, of course, already have similar programs. Topshop’s NewGen, which has sponsored Christopher Kane, Marios Schwab, Richard Nicoll, Louise Goldin, Henry Holland and so many more tends to scoop up the most talented, most broke of St. Martin’s talent and give them the perfect place to show, but the BFC/Vogue fund will have more follow through and individualized attention.

We’d gotten so used to waking up every morning to the news that yet another designer would be returning home to London for Spring 09 that we don’t know what to do with the news that Giles will be showing in Paris.

First, we should congratulate him for winning the ANDAM award, the same €160,000 endowment that sent Gareth Pugh to Paris one year ago. The prize, given by France’s National Association for the Development of the Fashion Arts has been previously bestowed upon designers like Margiela and Viktor & Rolf putting Giles in even higher company.

But really we’re kind of devastated. His clothes and spirit are so thoroughly British that the grand celebrations of the BFC’s 25th Anniversary will be lacking without his presence, not to mention that despite the crazy fun that is British Fashion Week there really are just a handful of internationally known designers in town - Luella, Westwood’s Red Label, Chris Kane and now probably Marios Schwab which makes Giles’ show one of LFW’s stars.

Meanwhile, we are excited to see how or if his designs change for such a different atmosphere and probably audience. Can we expect Anna’s presence?

In October, Nick Knight and SHOWstudio announced they’d be launching an epic exhibition at Somerset House to coincide with London Fashion Week SS09 and the BFC’s 25th Anniversary (the celebrations for which we’re already SO excited).

Well, now we know that the exhibit will showcase the site’s collaborations with designers, artists and models including Alexander McQueen, Liberty Ross, Gareth Pugh and Julie Verhoeven, as well as new collaborative films made specifically for the celebration and it’ll run from September through December.

One room will function as a photo studio, housing Nick Knight and his team preparing for on-site shoots. So you can watch his preparation live, instead of edited into a slick video. And while they’ll be shooting one hundred portraits of London’s hippest models, actors, musicians and artists, he’ll also be working with a major model.

And considering his taste in girls- Kate, Natalia, Irina, Daria, Lily - we’re kind of dying to know who it is. Guesses?