Oscar De La Renta is auctioning off an internship.

The fashion house is being joined by Balenciaga, M Missoni and Valentino by partaking in a scheme with charitybuzz.com, with unpaid positions offered in sales, press, merchandising or PR.

Those wanting to take part must be over 18 and enrolled in an accredited college or university course.

All proceeds from the auction go towards Rosie's Theatre Kids, a New York-based charity which enriches youngsters lives through arts education.

Balenciaga currently has a highest bid of $1,350, while Oscar de la Renta has so far made $1,000.

Valentino and M Missoni has yet to receive any bids, with seven days of the auction left.

Oscar was recently involved in the takeover of a new store in London, where hairdresser Nicky Clarke has been for more than 20 years.

Oscar, who was born in the Dominican Republic, is rumoured to be paying close to $1.5 million for the lease on the property in Mount Street, opposite the Connaught Hotel.