LVMH to Fund For Young Designers Through a Global Contest

Project Runway with way better judges should this contest be called.

LVMH Moët Hennessy Louis Vuitton is launching a global contest to look for the next upcoming young designers with fashion leading creative directors such as Karl Lagerfeld, Marc Jacobs, Nicolas Ghesquière, Raf Simons, Phoebe Philo andRiccardo Tisci as judges.

The contest will come with a grant of 300,000 Euros (USD $405,000) plus a year of coaching from industry leading designers should the designer be chosen. The project is a brain child of Dephine Arnault who has been known to advocate and incubate young talents for her family business.

“We thought, ‘Who better than the designers of the group to elect the young fashion designer of tomorrow?’” she told WWD, eyes widening when asked about the challenge of finding a date when all those fashion figures could gather in one room. “The aim of this prize is to try to discover talents that are unknown, and also to create a surprise.”

LVMH will fly in 30 short-listed candidates to Paris Fashion Week next March to exhibit their designs in Avenue Montaigne headquarters in which they have to “sell” their designs to a collective of esteemed buyers, editors, stylists and leading industry insiders. This “Expert Committee” will choose the final 10 who are to make 20-minute presentations to the judges.

The winner will be announced on May 2014. Registration is opened today at lvmhprize.com and will be closed on the February 2. The competition is open to any designer globally between the age of 18 to 40 who has launched two RTW collections either for men’s or women’s.

Expect Kering to follow suit with similar competition soon.

Source.