The LVMH Prize for Young Fashion Designers has announced that its Special Prize will be renamed the Karl Lagerfeld Prize, in honour of the late designer.
Lagerfeld was heavily involved with the LVMH Prize since its inception back in 2014, until he passed away in February this year.
“He was fully committed to it since day one,” LVMH executive vice president Delphine Arnault said. “The Karl Lagerfeld Prize naturally perpetuates the closeness we developed over the years and is a tribute to the man’s unique creative genius.”
The Karl Lagerfeld Prize will be the highest distinction awarded by the LVMH Prize for Young Fashion Designers. The winner, chosen from a jury-selected group of finalists, will receive a prize of €150,000 (£136,245) and a one-year mentorship programme with LVMH that comprises everything from intellectual property to production and distribution, image and communication and marketing for their label.
The finale of the sixth edition of the LVMH Prize for Young Fashion Designers will be held on 4 September, at the Fondation Louis Vuitton museum in Paris.