LVMH renames special prize in honour of Karl Lagerfeld

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The inaugural Karl Lagerfeld Prize will be presented during the sixth edition of the contest on September 4 at the Fondation Louis Vuitton

LVMH’s Special Prize will henceforth be named the Karl Lagerfeld Prize in memory of the late fashion icon, who served as a judge on the panel during his twilight years.

“Karl Lagerfeld, creative director of the house of Fendi since 1965, was involved in the prize since its launch,” said Delphine Arnault, the brains behind the springboard for fashion’s rising stars. “He was fully committed to it since day one, transporting us with his enthusiasm and his energy, sharing with everyone, whether other jury members or candidates, his culture and his passion for fashion. We shall always cherish those precious moments.”

The inaugural Karl Lagerfeld Prize will be presented during the sixth edition of the contest on September 4 at the Fondation Louis Vuitton. The winner will receive €150,000 (£136,000) and a one-year mentorship scheme under the LVMH team, which has been teaching skills such as sourcing, production, distribution, communication and marketing since the Prize’s inception in 2013. Last year, more than 1,700 applicants from 100-plus countries entered, according to WWD. The rules—it is open for anyone under the age of 40, who has produced and sold at least two women’s or men’s ready-to-wear collections—will remain the same under the Prize’s new moniker.