The French luxury giant LVHM Moët Hennessy has announced the creation of the LVMH Young Fashion Designer Prize and enlisted some of the biggest names in the fashion business to judge the prize.
US designer Marc Jacobs is one of the big name judges ©AFP PHOTO / JOEL SAGET
LVMH is offering one lucky emerging talent the chance to win €300,000 as well as business advice from a crack team of LVMH executives. The competition is open to both men's and womenswear designers, but they must be aged under 40, and have presented and sold at least two ready-to-wear collections.
Budding designers can apply online here and the first winner will be announced in May 2014.
Jury members for the first year include eight big-hitting creative directors from the company's different fashion houses: Nicolas Ghesquière (Louis Vuitton), Marc Jacobs (Marc Jacobs), Karl Lagerfeld (Fendi), Humberto Leon and Carol Lim (Kenzo), Phoebe Philo (Céline), Raf Simons (Dior) and Riccardo Tisci (Givenchy).
They will be joined by LVMH bigwigs Delphine Arnault, Jean-Paul Claverie (advisor to Bernard Arnault and head of corporate philanthropy for LVMH) and Pierre-Yves Roussel (Chairman and CEO of the LVMH Fashion Group). "As a leader in our industry, we have a responsibility to discover young talents and to help them flourish," explained Delphine Arnault, the driving force behind the project.
There's also an additional prize for young fashion graduates. The jury will pick three recently-graduated design talents who will win €10,000 each and will also get the chance to work within LVMH design teams.
Arnault explained to WWD.com that registration for the competition is done only online and there will be a gradual elimination process to find the ultimate winner. 30 semifinalists will be flown to Paris during March 2014’s Paris Fashion Week to show their creations at the LVMH headquarters. A committee of buyers, editors and stylists will eliminate 20 contestants to 10 finalists. The final 10 would make a presentation to the jury as part of the final round. - AFP RELAXNEWS