As this issue notes, art and fashion have, it seems, a lot in common, and as traditional,somewhat elitist hierarchies within the art world diminish, the two are crossing over in ways grander than ever before. But fashion’s interest in art isn’t limited to the commercial collaborations that have come to define the industry over the past decade. Since German brand Hugo Boss launched its namesake art prize in 1996 with the Guggenheim Museum, worth $100,000, fashion has assumed a position of cultural patronage to rival that of Italy’s famed House of Medici.

What’s interesting about the plethora of awards – locally, Bulgar teamed with the Art Gallery of New South Wales for a three-year partnership that awards a mid-career Australian artist $80,000 in the form of a commission by the gallery and a residency in Italy, while the Furla Art Award adopts a similar approach in Italy – is the critical framework with which they are administered. That is, by the partnering gallery of independent curators as opposed to the brands themselves, adding to the awards’ cultural cache.

Following Giorgio Armani’s three-year sponsorship of the Sydney Theatre Company, a partnership that saw its then co-artistic director Cate Blanchett appear as an ambassador of sorts for the brand, the Australian office of the Italian company announced a sponsorship of the National Art School’s exhibition. The $53,000 partnership, like Bulgari, is multilayered: in addition to a transactional donation of funds – much needed for the independent school, which is required to seek alternate income streams for nearly half of its funding – is the commission of a piece by a graduating student, as well as the selection of five artists whose work is exhibited in the brand’s stores around the country. These artists represent the specialist streams of the school, such as painting, sculpture and photography.

Giorgio Armani has, in the past, sponsored exhibitions, including those at the Venice Biennale and Palazzo Reale, Milan, but in this case Emporio Armani, the company’s youth-focused line, bears the namesake of the sponsorship, assuming it a position of cultural sophistication and Australian-specific relevance. Anita Taylor, the school’s director, says both the school and Armani share the benefits. “Art and fashion are natural bedfellows,” Ms Taylor explained following the school’s 2012 postgraduate exhibition, co-curated by Katie Dwyer and John Di Stefano. “From an educational perspective, fine art has traditionally been seen as the most pure form of ideas, but that has a natural relationship with fashion, too – both expressions of innovation. We’re very design conscious in the 21st century and audiences are interested in creative and cultural experiences, no matter the form. This relationship [with Armani] reflects that.”

As Ms Taylor explains, the Emporio Armani partnership is the school’s first major sponsorship, helping to underwrite its activities and support a new generation of artists by promoting their work to a much broader audience and fostering the creation of new work. “It’s critical in the future success and vibrancy of the school,” which boasts such luminaries including Margaret Olley, John Olsen and Tim Storrier.