LVMH Launches Applications for 2024 Prize, Introduces New Award for Savoir Faire

Thursday saw registration open for the 2024 edition of LVMH's renowned prize for emerging talent. In an unexpected turn of events, the institution also introduced a new award called the Savoir Faire Prize.

The recently established honor, the Savoir Faire Prize, will complement the current LVMH Prize and the Karl Lagerfeld Prize.

Launched in 2013, the LVMH Prize for Young Fashion Designers welcomes designers aged 18 to 40 from all around the globe who have crafted at least two ready-to-wear collections of women's, men's or unisex clothing.

"As we conduct our 11th edition of the Prize, this year, I am thrilled to underscore our commitment to a key creative value, craftsmanship. The LVMH Savoir Faire Prize is designed to honor remarkable artisanal skill, innovative creation and production, and sustainable fashion," shared LVMH executive Delphine Arnault, the main proponent of the awards, in an announcement.

The Savoir Faire Prize is a milestone, as it is the first time LVMH has chosen to acknowledge exceptional talent in the areas of artisanal excellence, inventive application of technology in the realm of creativity, and sustainability. The aim of this new award is also to encourage the passing down of artisanship skills.

The initial two prizes are judged according to a unique system which consists of a semi-final evaluated by numerous industry professionals, and a final judged by LVMH's creative directors and a select group of executives.

The Savoir Faire Prize is meant to recognize a promising brand chosen from the finalists. A new assemblage of experts will judge the award, though who they are remains to be revealed.

The decision will underscore this pursuit of artisanal excellence, LVMH stated.

All three prizes hold significant value. The LVMH Prize for Young Fashion Designers winner stands to gain a €400,000 grant and personalized guidance from the LVMH teams. The recipient of the Karl Lagerfeld Prize will take home €200,000 and a year of mentoring from LVMH. Winning the Savoir Faire Prize comes with €200,000 and further mentoring.

The LVMH prizes have proven exceptional at discovering promising talent. Renowned winners in the past include S.S. Daley, Nensi Dojaka, Thebe Magugu, and Grace Wales Bonner. The second prize has gone to designers such as Jacquemus, Rokh, and Hood by Air.

This year's competition marks the 11th round of the LVMH Prize. Thousands of hopeful candidates will have until January 7, 2024, to submit their applications via the lvmhprize.com. The semi-final is set to be held between February 29 and March 1, with the venue being Paris Fashion Week for women's ready-to-wear.

Interestingly, LVMH has not clarified the date of the final round. Nevertheless, in recent iterations it has typically taken place in early June.

LVMH is set to release a documentary covering the first 10 years of the prize made by esteemed fashion filmmaker Loïc Prigent. This will be launched on YouTube on November 8, 2023.