The 2020 LVMH Prize will be shared among all 8 finalists

finalists The COVID-19 pandemic continues to impact the fashion industry in ways macro and micro. Today brings news that the LVMH Prize final, originally scheduled for June 5, has been put off. Instead, the €300,000 award will be distributed evenly between the eight finalists chosen in late February by a committee of industry experts at the Prize’s Paris showroom presentation.

Prize

The year’s finalists are Priya Ahluwalia of Ahluwalia, Charaf Tajer of Casablanca, Emma Chopova and Laura Lowena of Chopova Lowena, Nicholas Daley, Peter Do, Sindiso Khumalo, Supriya Lele, and Tomotaka Koizumi of Tomo Koizumi.

In addition, in recognition of the economic threat the pandemic poses to fledgling brands, the LVMH Prize is establishing a fund using the 2020 Karl Lagerfeld Prize allocation to benefit winners of the six previous editions of the Prize for Young Fashion Designers and the Karl Lagerfeld Prize. There will be an application process.

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“Since its launch, the LVMH Prize has promoted and nurtured young talent. Each year, it places the spotlight on young designers from all over the world and supports the development of their companies,” said Delphine Arnault, the executive vice president of Louis Vuitton and founder of the Prize, in a statement. “In this challenging context, this fund in aid of young fashion designers highlights the main mission of the LVMH Prize by supporting our former winners.”

LVMH Prize final cancelled, fund created to aid young designers

In addition, in recognition of the economic threat the coronavirus pandemic poses to fashion talent, the LVMH Prize has also set up a fund to aid young fashion designers that it states will be supplemented with the Karl Lagerfeld Prize that usually is awarded a 150,000 Euro cash prize. This fund will be used to benefit winners of the six previous editions of the LVMH Prize upon application. With full details of the fund expected at a later date.

Delphine Arnault, the executive vice president of Louis Vuitton and founder of the LVMH Prize, said in a statement: Since its launch, the LVMH Prize has promoted and nurtured young talent. Each year, it places the spotlight on young designers from all over the world and supports the development of their companies.

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“In this challenging context, this Fund in aid of young fashion designers highlights the main mission of the LVMH Prize by supporting our former winners.”

Since its launch, the LVMH Prize has boosted the careers of numerous young designers, who have won the coveted first prize and runner-up prizes, includes last years winner Thebe Magugu, Masayuki Ino, Grace Wales Bonner, Rokh, Marine Serre, Kozaburo Akasaka, Vejas, Marques’Almeida, Jacquemus, Hood By Air and Miuniku.