The COVID-19 pandemic continues to impact the fashion industry in ways macro and micro. Today brings news that the LVMH Prize final, originally scheduled for June 5, has also been put off. Instead, the €300,000 award will be distributed evenly between the eight finalists chosen in late February by a committee of industry experts at the Prize’s Paris showroom presentation. The year’s finalists are Priya Ahluwalia of Ahluwalia, Charaf Tajer of Casablanca, Emma Chopova and Laura Lowena of Chopova Lowena, Nicholas Daley, Peter Do, Sindiso Khumalo, Supriya Lele, and Tomotoka Koizumi of Tomo Koizumi.
In addition, in recognition of the economic threat the pandemic poses to fledgling brands, the LVMH Prize is establishing a Fund using the 2020 Karl Lagerfeld Prize allocation to benefit winners of the six previous editions of the Prize for Young Fashion Designers and the Karl Lagerfeld Prize. There will be an application process.
“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,” said Delphine Arnault, the Executive Vice President of Louis Vuitton and founder of the Prize, in a statement. “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.”