LVMH has launched a new initiative to support and celebrate exceptionally talented emerging designers. The LVMH Young Fashion Designers Prize will offer one designer under the age of 40, who has presented or sold two ready-to-wear collections, a grant of €300,000, as well as year-long mentoring from the luxury conglomerate to help develop their label.
The award will be chosen by eight creative directors with within the LVMH stable – Louis Vuitton’s Nicolas Ghesquière, Marc Jacobs, Fendi’s Karl Lagerfeld, Kenzo’s Humberto Leon and Carol Lim, Céline’s Phoebe Philo, Dior’s Raf Simons and Givenchy’s Riccardo Tisci – as well as Delphine Arnault, Jean-Paul Claverie, advisor to Bernard Arnault and head of corporate philanthropy for LVMH, and Pierre-Yves Roussel, LVMH fashion group chairman and CEO. The jury will choose from a shortlist of 10, selected by a panel of international fashion experts, including journalists, stylists and buyers. Applications open today and the winner will be named in May 2014.