LVMH, the luxury conglomerate, has officially opened applications for the next edition of its prestigious prize for young talent in the fashion industry, set to take place in 2024. In an unexpected move, LVMH has also introduced a new award called the Savoir Faire Prize, which highlights the significance of craftsmanship and sustainability in fashion.
The Savoir Faire Prize will join the existing LVMH Prize and the Karl Lagerfeld Prize. Established in 2013, the LVMH Prize is open to designers aged 18 to 40 from all over the world who have created at least two ready-to-wear collections for women, men, or unisex. With the addition of the Savoir Faire Prize, LVMH aims to recognize and reward excellence in craftsmanship, technical innovation, and sustainability within the fashion industry.
Delphine Arnault, an LVMH executive closely involved with the awards, expressed her excitement about the 11th edition of the prize and the emphasis on know-how. She stated, “The LVMH Savoir Faire Prize aims to recognize artisanal excellence, innovative approaches to creation and production, and a commitment to sustainable fashion.”
The Savoir Faire Prize not only celebrates exceptional craftsmanship but also endeavors to promote the transfer of skills within the industry. It marks a significant step for LVMH as it is the first time the luxury conglomerate will specifically reward and acknowledge the importance of craftsmanship and sustainability.
While the LVMH Prize and Karl Lagerfeld Prize have their own respective juries involving industry experts, the Savoir Faire Prize will be judged by a new panel of experts, whose identities will be announced soon. The selected young brand will receive this prestigious prize, which includes a €200,000 cash award and mentoring.
All three prizes hold substantial value and provide invaluable support to emerging talent in the fashion industry. The winner of the LVMH Prize for Young Fashion Designers will be granted a €400,000 endowment and personalized mentoring from LVMH teams, while the Karl Lagerfeld Prize winner will receive €200,000 and a year of mentoring.
The LVMH Prizes have an exceptional history of discovering and nurturing young designers. Previous winners of the top prize include S.S. Daley, Nensi Dojaka, Thebe Magugu, and Grace Wales Bonner. The second recognition, which has undergone name changes over the years, has been awarded to designers such as Jacquemus, Rokh, and Hood by Air.
Aspiring candidates for the 2024 edition of the LVMH Prize have until January 7, 2024, to submit their applications on the official website. The semi-final round will take place from February 29 to March 1, coinciding with Paris Fashion Week for women’s ready-to-wear. Although the date of the final round has not yet been announced, it typically occurs in early June.
In celebration of the prize’s legacy, LVMH will release a documentary produced by renowned fashion filmmaker Loïc Prigent, chronicling the first decade of the prize. The documentary will premiere on YouTube on November 8, 2023.
With the introduction of the Savoir Faire Prize, LVMH reaffirms its commitment to supporting and nurturing young talents in the fashion industry. This prestigious award acknowledges the importance of artisanal excellence, innovation, and sustainability, ensuring the industry’s continued growth and creative evolution. As applications pour in, the fashion world eagerly awaits the announcement of the winners who will join the esteemed list of previous laureates.
Useful links:
1. LVMH Prize Official Website
2. YouTube
