Sophie Theallet Won the International Woolmark Prize for the U.S.

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NEW YORK, NY - FEBRUARY 14: Sophie Theallet attends the "The Ever Changing Face of Beauty" W Magazine opening reception at the Park Avenue Armory on February 14, 2012 in New York City. (Photo by Ben Hider/WireImage) Photo: Ben Hider/WireImage

Beating out the likes of Naeem Khan, Prabal Gurung, and Victoria Bartlett for VPL, Theallet will take home $100,000 as part of the new competition, which "identif[ies] the world's foremost emerging designers and highlight[s] the diverse interpretations of Merino wool within their collections." WWD writes that Theallet has the chance to bag another $100,000 in February, when she goes up against designers from around the world.