And now the LVMH young designer prize finalists are out! It’s been a big week for prize announcements, what with the CFDA and now this. In fact, it’s kind of instructive to look at the two together, because it underscores how global fashion has become – and the problems that arise when you try to think of it in the national context. Think how much more fun it would be if everyone could be considered for “womenswear designer of the year” or “accessory designer of the year.” Now that would be really interesting!
Nominations please. Read more
LVMH has confirmed it has taken a minority stake in Young Italian Designer (we will not acronym that for obvious reasons) Marco de Vincenzo, making him the second such up-and-comer to receive such investment from the luxury behemoth, and underscoring the increasing competition among the established groups to identify, and potentially own, new talent. The terms of the deal were not disclosed, but there’s no question, it’s putting its money where its mouth is. At least some money. Read more
Today may be the day the big names – Marc Jacobs, Ralph Lauren, Calvin Klein – come out to play in New York, but in Paris it’s all about the new ones. The shortlist for the LVMH Young Designer’s Prize, which was launched last November by Delphine Arnault, has just been unveiled, creating much buzzing amid the fashion crowd. It includes most of the hot names in New York and London, many of which have also been finalists for the Vogue Fashion fund competitions in both countries, or the Dorchester prize, or sponsored by Giorgio Armani. And I wonder: is the competition greater among the baby brands vying for the awards, or among the mega brands bestowing them? I tend to think the answer may actually be the latter. I saw her first! No, I did! Read more
What a week. Monday, LVMH announced it was opening a giant, Google-like beauty campus in central France to help research and the local economy; Tuesday, Kering announced it was entering into a JV with Bottega Veneta designer Tomas Maier to grow his eponymous business. Yesterday, LVMH announced the establishment of the LVMH Young Fashion Designers Prize, which would award a young designer E. 300,000 and mentorship, from an LVMH exec (plus three grads a smaller amount and a year’s employ at LVMH); today, Kering announces it is creating the “Python Conservation partnership” in conjunction with the International Trade Centre (ITC) and the International Union for Conservation of Nature (IUCN SSC Boa & Python Specialist Group) “with the aim of contributing to the improved sustainability of the python trade and helping facilitate industry-wide change.” (Kering likes snakeskin; that’s a look from the Gucci spring/summer 2013 show, above left.) Zowie. What are they putting in the water over there in Paris? Anyone else feel competition to be good heating up? Read more