LVMH Launches The LVMH Young Fashion Designers Prize

PARIS, Nov. 21, 2013 /PRNewswire/ -- LVMH has always made support for the talents of tomorrow a cornerstone of its corporate philanthropic programs. Today LVMH is pleased to announce a major new commitment with the creation of the LVMH Young Fashion Designer Prize.

The LVMH Young Fashion Designer Prize is a groundbreaking award in terms of concept, content and international scope. Each year, the prize will celebrate a young designer recognized for his or her exceptional talent.

LVMH will also recognize three recent fashion school graduates, offering them an opportunity to join the design team at an LVMH brand for one year.

For the LVMH Prize, the Group has asked eight creative directors from its Fashion Houses to select the most promising young fashion designer each year.

For Delphine Arnault : "The LVMH Prize has been created to support promising young fashion designers. This philanthropic initiative resonates powerfully with the core values of our Group. Our designers will recognize the talents of tomorrow, who will receive awards and support in developing their brand. Our goal is clearly to energize the vitality and creativity of the fashion world on a global scale. As a leader in our industry, we have a responsibility to discover young talents and to help them flourish."

The members of the jury for the first edition of the prize in 2014 will be composed of eight creative directors from LVMH Fashion Houses including: Nicolas Ghesquire (Louis Vuitton), Marc Jacobs (Marc Jacobs), Karl Lagerfeld (Fendi), Humberto Leon and Carol Lim (Kenzo), Phoebe Philo (Celine), Raf Simons (Dior) and Riccardo Tisci (Givenchy).

The designers will be joined by Delphine Arnault, Jean-Paul Claverie (advisor to Bernard Arnault and head of corporate philanthropy for LVMH) and Pierre-Yves Roussel (Chairman and CEO of the LVMH Fashion Group).

The winner will receive a grant of 300,000 euros, as well as personalized assistance from a special LVMH team in developing their company for a period of twelve months. This support will include all crucial areas of expertise that are critical to successfully building a nascent fashion brand - including advisement on intellectual property, sourcing, production and distribution, image and advertising, marketing, etc.

The LVMH Prize is open to designers under 40 years old who have presented and sold at least two women's or men's ready-to-wear collections. Applications will be accepted beginning today and until February 2, 2014 exclusively through the official LVMH Young Fashion Designers Prize website at www.lvmhprize.com.

The website has been envisioned as a collaborative platform, where the public is invited to discover and interact with young design talent through a unique digital hub.

A panel of international fashion experts including journalists, stylists and buyers will help establish a shortlist of ten finalists who will be presented to the Prize's Jury.

The inaugural winner will be announced in May 2014.

The LVMH Prize will also recognize three young graduates who have completed a university program in fashion design. The three winners will each win 10,000 euro. They will also receive an invitation to join the design team at an LVMH brand for one year. Candidates for this award may apply exclusively through www.lvmhprize.com.

LVMH Young Fashion Designers Prize - Calendar

Launch: November 21, 2013
Candidate applications submitted on the website: November 21, 2013 - February 2, 2014
Ten finalists selected by a panel of experts: March 2014
Winner selected by the jury: end of May 2014

LVMH: 25 years of passion for creativity and support for young fashion talents

Over the nearly 25 years since the founding of LVMH, the Group's brands have all been inspired by a passion for creativity and innovation while nourishing an exceptional heritage rooted in time-honored savoir-faire. As Bernard Arnault puts it: "Innovation is more powerful when it springs from a preserved heritage."

In metiers as diverse as fashion, jewelry, perfumes, leather goods, winemaking or watches, LVMH brands and designers stand apart in their quest for excellence, and their unique passion for innovation, invention and creativity.

Because both its roots and future are intimately linked to creativity, LVMH and its brands have always actively nourished creative talent. Creativity is one of the Group's core values, guiding all its teams, from designers to noses to cellar masters. This engagement inspires all LVMH houses to actively support creativity in every form. LVMH is, for that reason, a sponsor of major exhibitions, like Daniel Buren's installation for Monumenta or the Gerhard Richter retrospective at the Pompidou Center.

Motivated by this "passion for creativity", LVMH has for many years supported the world of fashion globally through corporate philanthropic initiatives (which will continue following the launch of the new LVMH Prize), including:

• the ANDAM Fashion Awards (Association Nationale de Developpement des Arts de la Mode)
• the Hyres International Fashion and Photography Festival
• Central Saint Martins College of Arts and Design in London
• the investment fund for young designers created by the French Ministry of Culture and Communication.

Today, this same passion has led the LVMH Group to launch the LVMH Young Fashion Designers Prize. This initiative helps drive the momentum and emergence of fresh talent that are essential to the vitality and diversity of the fashion ecosystem, a role that is perfectly in phase with the responsibilities of a Group that has become the world leader in luxury.

About LVMH

LVMH Moet Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moet & Chandon, Dom Perignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Chateau d'Yquem, Hennessy, Glenmorangie, Ardbeg, Wen Jun, Belvedere, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton et Numanthia. Its Fashion and Leather Goods division includes Louis Vuitton, Celine, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs and Berluti. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marche, la Samaritaine and Royal Van Lent. LVMH's Watches and Jewelry division comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd, a joint venture created with the world's leading diamond group.

SOURCE LVMH