Fashion label E. Tautz has won the second British Fashion Council (BFC) and GQ Menswear Fund.

Originally founded in 1867, E. Tautz was re-branded in 2009 under the creative direction of Patrick Grant.

"We are delighted to be able to support a label with such a strong identity, precise business plan and noteworthy presence at London Collections Men," said Caroline Rush, Chief Executive of the British Fashion Council. "I strongly believe that the prize will successfully help propelling E. Tautz onto the international fashion scene."

The Fund is the UK's biggest menswear prize, providing the winning designer with £150,000 (around $235,000) grant to provide necessary infrastructure to take them to the next stage of their business. Established in September 2013 following the success of the BFC/Vogue Designer Fashion Fund, it also offers bespoke, high-level mentoring support over a 12-month period.

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This year's shortlist for the prize included Astrid Andersen, Christopher Raeburn, E. Tautz, Matthew Miller and Sibling. Industry experts on hand to offer guidance on strategic planning, branding, leadership, commercial retail, e-tail and wholesale and digital innovation included Ben Banks, the CEO of Four Marketing, Karen Mengers, the Merchandising Director of Alexander McQueen and Sean O'Neill, Head of Global Digital Trading at All Saints.

Speaking about the winning brand, GQ Editor and Chair of London Collections Men Dylan Jones said: "Patrick demonstrated unique flair, precise craftsmanship and an inherent sense of commercial awareness, which combined with the financial and mentoring support will elevate the business placing it at the forefront of the global menswear stage."