LVMH Möet Hennessy Louis Vuitton is commemorating the late, legendary designer Karl Lagerfeld by renaming the prestigious the LVMH Special Prize to the Karl Lagerfeld Prize. The distinguished prize which caters to emerging designers under 40, offers winner a €300,000 (Dhs1.2 million) grant along with an invaluable one-year mentorship within LVMH to guide them on all aspects of their business to maximize profitability.
Having famously won an International Wool Secretariat award in 1954, Lagerfeld went on to become one of the most prolific fashion icons of the century for his visionary roles at Fendi, Chanel, Chloe and his eponymous brand Karl Lagerfeld. As Creative Director of LVMH’s Maison Fendi since 1965, Lagerfeld was a champion for the award since its inception in 2014 as he recognized the impact that such platforms could offer driven, talented young designers in the industry. Previous winners of LVMH’s Special Prize include Simone Porte Jacquemus and Hood By Air’s Shayne Oliver.
The inaugural Karl Lagerfeld Prize will be presented on September 4th at the Fondation Louis Vuitton in Paris. Finalists for the first-ever Karl Lagerfeld Prize are Kunihiko Morinaga, Bethany Williams, Emily Adams Bode, Hed Mayner, Kenneth Ize, Spencer Phipps, Stefan Cooke and Jake Burt, and Thebe Magugu. The winner will be selected by a jury consisting of LVMH’s biggest fashion stars including Marc Jacobs, Maria Grazia Chiuri, Nicholas Ghesquière and Jonathan Anderson.