How Billy Reid Is Spending His $300,000 CFDA/Vogue Fashion Fund Prize

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Photo: patrickmcmullan.com

It's so boring that Cathy Horyn called it just that in her headline about the designer, who is based out of Florence, Alabama. Anyway, he's using the prize money to open a Manhattan showroom, hire a product developer, set up a warehouse in Florence, and hire sales help. Runner-up Prabal Gurung said he put his $100,000 prize toward producing his spring collection. [On the Runway/NYT]