The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The conglomerate created a digital platform to showcase the semi-finalists’ collections, which will be available on LVMH Prize’s website from April 6 to 11. For the first time visitors using the platform will be able to vote for their favourite designer.
Semi-finalists include Christopher John Rogers, who won the 2019 CFDA/Vogue Fashion Fund and Charles de Vilmorin, creative director of Simone Rocha, among several new emerging talents including Saul Nash and Bianca Saunders. The international annual prize attracted over 1,900 candidates and for the first time among the 20 semi-finalists include designers from Albania (Nensi Dojaka) and Colombia (Kika Vargas).
”This semi-final will be entirely digital, and we wanted it to be open to as many people as possible: for the first time, the LVMH Prize will give the floor to the public,” said executive vice president of Louis Vuitton and founder of the LVMH Prize Delphine Arnault.
The winner will receive a €300,000 prize and mentorship for a year within LVMH. Similarly, the winner of the Karl Lagerfeld prize will receive €150,000 and a year of mentorship.
Fashion brands are edging in on the world’s largest gathering of design professionals and their wealthy clients, but design companies still dominate the sector, which is ripe for further consolidation, reports Imran Amed.
Blocking the deal would set a new precedent for fashion M&A in the US and leave Capri Holdings in a precarious position as it attempts to turn around its Michael Kors brand.
After preserving his fashion empire’s independence for decades, the 89 year-old designer is taking a more open stance to M&A.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.