The energy drink brand is working with entertainment and marketing group IMG on the event, and the two have appointed TBWA\London to develop an advertising campaign to build awareness and attract registrations.
The first event will take place next September, culminating in an annual fashion show and awards to be held each autumn.
A range of partners will be unveiled in the new year, and a TV programme to support the event is being considered.
Red Bull's move into fashion marks an expansion of its sponsorship focus, which until now has revolved around extreme sport and one-off high-profile events such as the Red Bull Flugtag.
Red Bull, which appointed Guy Carling as UK marketing director last month (Marketing, November 20), hopes to build on its popularity by offering an entry to the fashion industry to people from all walks of life, especially those with no previous connection to it.
The ad campaign will break early next year. A spokeswoman for Red Bull said its appointment of TBWA\ London had been made on a project basis and would have no bearing on its existing advertising arrangements with Kastner & Partners.