French multinational luxury conglomerate LVMH Moët Hennessy – Louis Vuitton has today announced a new international initiative to support and reward talented emerging designers. The LVMH Young Fashion Designers Prize will offer one designer under the age of 40 (who has presented or sold two collections of men’s or women’s ready-to-wear) a grant of €300,000 as well as business mentoring for a year.
A panel of fashion journalists, stylists and buyers will put together a shortlist of 10 contestants, which will then be scrutinised by eight creative directors from within LVMH: Nicolas Ghesquière (Louis Vuitton), Marc Jacobs, Karl Lagerfeld (Fendi), Humberto Leon and Carol Lim (Kenzo), Phoebe Philo (Céline), Raf Simons (Dior) and Riccardo Tisci (Givenchy). Delphine Arnault (LVMH director and founder of the scheme), Jean-Paul Claverie (advisor to Bernard Arnault and head of corporate philanthropy for LVMH) and Pierre-Yves Roussel (LVMH fashion group chairman and CEO) will also be involved in the selection process.
In addition, LVMH will award three fashion graduates €10,000 each, as well as a one-year post in the design studio of an LVMH brand. Nominations opened today at lvmhprize.com and close on 2 February 2014. The winner will be announced in May 2014.