Christian Dior has agreed a new partnership with The Princess Grace Foundation-USA.

The luxury French label has signed a three-year deal with the non-profit organisation, which aims to assist upcoming artists in the fields of theatre, dance and film, WWD reports.

The foundation was established in 1982 by Prince Rainier following the untimely death of his wife, Princess Grace - previously known as Grace Kelly - in 1982.

Since then, the organisation has awarded more than $8 million in support to aspiring artists.

The agreement has granted Dior exclusive sponsorship of the foundation's upcoming gala awards, which are being staged in Los Angeles, Monaco and New York.

Meanwhile, the Christian Dior brand already has strong ties to Monaco, having staged its pre-spring/summer show in the principality last May - an event attended by Monaco royals Prince Albert and Princess Charlene.

Fellow luxury brand Louis Vuitton also chose it as the setting of their pre-spring/summer 2015 collection show.