Initiated by Delphine Arnault (daughter of LVMH’s CEO Bernard Arnault), the prize includes a year of assistance from a LVMH team to dvelop their business, a host of support opportunities (sourcing, production, distribution etc) and a sum of cash totalling 300,000 euros.
Though details are scant, LVMH has its own panel of judges that include some of fashion’s biggest talents today. Marc Jacobs, Karl Lagerfeld Phoebe Philo and Raf Simons are just some of the names that have been thrown into the fray.
There is however some conditions which have come to light. Besides being under the age of 40, applicants must have presented and sold at least two read-to-wear collections. Besides the main winner, three fashion design graduates will also be chosen from the crop to join the design arm of LVMH for a year in addition to receiving 10,000 euros.
“The LVMH Prize has been created to support promising young fashion designers. This philanthropic initiative resonates powerfully with the core values of our Group. Our designers will recognize the talents of tomorrow, who will receive awards and support in developing their brand. Our goal is clearly to energize the vitality and creativity of the fashion world on a global scale. As a leader in our industry, we have a responsibility to discover young talents and to help them flourish,” said Arnault.
Hopefuls can visit http://www.lvmhprize.com/