LVMH, on Thursday, opened registration for applications to the 2024 edition of its famed prize for young talent, and, in a surprise development, added an new award for Savoir Faire.
The new honor, entitled, the Know-How Prize, will be added to two existing prizes – the LVMH Prize and the Karl Lagerfeld Prize.
Created back in 2013, the LVMH Prize for Young Fashion Designers is open to fashion designers from around the world aged 18 to 40 who have designed at least two ready-to-wear collections feminine, masculine or unisex.
“The Prize is entering its 11th edition and, this year, I am delighted to mark our attachment to an essential value of creation, know-how. This LVMH Know-How Prize is intended to celebrate artisanal excellence, innovation in terms of creation and production, and a more sustainable fashion,” said the key author of the awards, LVMH executive Delphine Arnault, in a release.
The Know-How Prize marks the first time LVMH will reward excellence in craftsmanship, technical innovation in the service of creativity, and sustainability. Designed to celebrate exceptional craftsmanship, this new prize aims to also promote the transmission skills.
The existing two prizes have a distinct jury system, with a semi-final composed of several score of industry experts; and a final made up of a group of LVMH creative directors, and a handful of LVMH executives.
The Know-How Prize is designed to distinguish a young brand selected from among the finalists. It will be judged by a new group of experts, to be revealed soon.
“Their appointment will reflect this quest of artisanal excellence,” LVMH added.
All three prizes are rich ones. The winner of the LVMH Prize for Young Fashion Designers will receive an endowment of €400,000 and personalized mentoring by the LVMH teams. The winner of the Karl Lagerfeld Prize receives €200,000 and a year of LVMH mentoring. The Savoir-Faire Prize is worth €200,000 plus mentoring.
The LVMH prizes have developed a pretty impressive track record of unearthing young talent. The top award has been nabbed by the likes of S.S. Daley, Nensi Dojaka, Thebe Magugu and Grace Wales Bonner. While the second recognition – whose exact name had evolved – has been awarded to designers like Jacquemus, Rokh and Hood by Air.
This marks the 11th edition of the LVMH Prize. Candidates, which number into their thousands, will have until January 7, 2024, to register their dossier on lvmhprize.com. The semi-final will take place between February 29 and March 1, during the next Paris Fashion Week for women’s ready-to-wear.
Curiously, LVMH did not announce the date of the prize’s final, though in recent years this has often been in early September.
A LVMH-paid-for documentary by the noted fashion cineaste Loïc Prigent covering the first decade of the prize will be unveiled on YouTube on November 8, 2023.
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