LVMH, the group that owns luxury brands like Louis Vuitton, Dior, Celine, and Givenchy, is on the hunt to discover the next great designer. The company has announced the LVMH Young Fashion Designer Prize, a competition that offers budding designers a $405,000 grant. It is, unsurprisingly, the brainchild of label-whisperer Delphine Arnault. “The aim of this prize is to try to discover talents that are unknown, and also to create a surprise,” she told WWD.
The brand will fly 30 semifinalists to Paris Fashion Week, where they will meet with a committee of buyers, editors, and stylists, reports WWD. The group will be narrowed down to ten semi-finalists, and the winner will be selected by a panel that includes Marc Jacobs, Karl Lagerfeld, Nicolas Ghesquière, Raf Simons, and Kenzo's Humberto Leon and Carol Lim. Here's hoping this is all televised, X Factor style.