The coronavirus pandemic has already led to the cancellation of major annual events, and the LVMH Prize was no exception. On April 14, it was announced that the final of the award for young designers scheduled for June 5 would not take place. However, the organizers of the event made a truly noble decision to divide the prize fund of € 300,000 equally between the eight finalists chosen by the expert council of the award. The winners include Peter Do, Tomo Koizumi, Priya Ahluwalia of Ahluwalia, Charaf Tajer of Casablanca, Emma Chopova and Laura Lowena of Chopova Lowena, Nicholas Daley, Sindiso Khumalo and Supriya Lele. Thus, each of them will receive € 40,000.
During the current period of economic uncertainty young brands are being hit especially hard. In this regard, LVMH Prize also took the initiative to create a fund to further support young fashion designers who won in previous years: Thebe Magugu, Doublet, Marine Serre, Grace Wales Bonner, Marques Almeida, Thomas Tait and Miuniku. Six Karl Lagerfeld Prize winners, including Hood by Air, Jacquemus and Kozaburo, can also count on the support of the fund. Director and executive vice president of Louis Vuitton and founder of LVMH Prize, Delphine Arnault declares:
“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. 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.”