In the programme, a group of 18 fashion designers will compete in various challenges created to test their sartorial prowess and creative talents.
The winner will receive a $250,000 (£196,572) prize and the opportunity to debut their collection with luxury fashion online retailer Net-a-Porter.
While Netflix has not yet announced any of the contestants, the streaming giant has said that unlike other fashion reality TV shows, they are not amateurs and each of them has already worked for major brands and dressed A-list celebrities.
The show is designed to take their career to the next level and will see a number of special guest judges, including celebrity stylist Elizabeth Stewart and Instagram’s Eva Chen, who is director of fashion partnerships at the social media platform.
The series will consist of 10 episodes and marks Netflix’s first foray into fashion-focused reality programmes.
It is being promoted on a dedicated Instagram account, @nextinfashion, that features photographs of Chung and France holding printed invitations to “Netflix’s first fashion show”.
An air date for the show has not yet been revealed, but it already has its own page on Netflix, which comes with a description reading: “Designers team up to create visionary looks that work for absolutely everyone in this competition series hosted by Alexa Chung and Tan France”.