August 28, 2019
Karl Lagerfeld was the creative director at Chanel and Fendi. Image credit: LVMH
Luxury conglomerate LVMH is honoring the memory of late designer Karl Lagerfeld by renaming its Prize for Young Designers after him.
Mr. Lagerfeld, who passed away in February, spent half a century at LVMH-owned label Fendi. From the 2019 edition on, the award will be named the Karl Lagerfeld Prize.
In memory
Aside from his work at Fendi, Mr. Lagerfeld was a juror for the LVMH Prize since its inception in 2014.
“Karl Lagerfeld, creative director of the House of Fendi since 1965, was involved in the prize since its launch,” said Delphine Arnault, executive vice president of Louis Vuitton, in a statement.
“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,” she said. “We shall always cherish those precious moments.
“The Karl Lagerfeld Prize naturally perpetuates the closeness we developed over the years and is a tribute to the man’s unique creative genius, to his ability to turn Paris into the fashion capital of the world.”
Instagram post from LVMH Prize
LVMH saw more than 1,700 applicants for this year’s Prize for Young Designers.
Designers from 100 countries vied for a chance at a 300,000 euro grant and mentorship, and the 20 semi-finalists picked from the applicant pool represent 15 nations. LVMH is giving these contestants a global stage through an influencer partnership and retail placement (see story).
Along with the grand prize, the Karl Lagerfeld Prize will give out a 150,000 euro prize to a finalist for their creative talent. In addition to the money, this individual will be mentored for a year by a team from LVMH that can help with areas such as marketing and intellectual property.
The winner of the 2019 edition of the prize will be announced on Sept. 4.
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