PARIS – LVMH Moët Hennessy Louis Vuitton is extending its commitment to craftsmanship to its annual search for emerging fashion talents.
This year’s edition of the LVMH Prize for Young Designers will feature a new award, the Savoir-Faire Prize, the luxury conglomerate said on Wednesday as it opened applications. Entries must be submitted on the prize web site, lvmhprize.com, by Jan. 7.
Aimed at promoting the transmission of skills, the new prize will distinguish a young brand selected among the finalists of the award and will come with a grant of 200,000 euros and a one-year mentorship program from the LVMH Group.
“The prize is launching its 11th edition and this year I am delighted to honor our attachment to a core value of creation, savoir-faire. The LVMH Savoir-Faire Prize celebrates excellence in craftsmanship, innovation in design and production, and a more sustainable approach to fashion,” said Delphine Arnault, the force behind the prize and a key talent scout at LVMH.
The announcement comes after the world’s largest luxury group said last month it would open a dedicated space for craftsmanship in Paris.
Set to open in 2025, the Maison des Métiers d’Excellence will allow visitors to touch and feel the breadth of the 280 skilled trades represented across its 75 brands, which range from Louis Vuitton to Dom Pérignon, Tiffany & Co. and Sephora.
It will also provide a physical home for LVMH’s vocational training initiatives, in a move calculated to give the group a competitive edge amid a shortage of skilled workers.
In tandem with Wednesday’s announcement, organizers posted a behind-the-scenes documentary about the award’s 10th anniversary, directed by Loïc Prigent, on the LVMH Prize’s YouTube channel.
The competition now includes three prizes. The overall winner receives a grand prize of 400,000 euros and mentorship by LVMH teams in such areas as sustainable development, communication, copyright and corporate legal aspects, marketing, manufacturing and the financial management of a brand.
The runner-up Karl Lagerfeld Prize comes with a 200,000-euro endowment and also enjoys a one-year mentorship. The contest is open to fashion designers from all over the world aged between 18 and 40 who have created at least two womenswear, menswear or genderless ready-to-wear collections.
The annual prize has helped propel the careers of such talents as Marine Serre, Nensi Dojaka, Thebe Magugu, Simon Porte Jacquemus and Grace Wales Bonner. Last year’s winner was Setchu by Satoshi Kuwata, a designer who has worked for everyone from a Savile Row tailor to luxury sneakers brand Golden Goose.
The semi-final of the 2024 edition will take place on Feb. 29 and March 1. Once again, the general public will be invited to discover the designers and vote for their favorite collection online.
The 2024 LVMH Prize also distinguishes three fashion school graduates. Each will receive 10,000 euros and join the design studio of a house within LVMH, whose fashion brands include Louis Vuitton, Dior, Celine, Givenchy, Fendi, Loewe and Marc Jacobs. Online applications for the student prizes remain open until March 17.