In a move befitting our current era, the 2020 LVMH Prize will see the equal distribution of the award among the eight finalists previously selected by a committee of fashion voices back in February.
Tuesday also saw word that the LVMH Prize for Young Fashion Designers itself—originally slated for June 5—had been called off due to COVID-19.
"This year, the allocation of the LVMH Prize will be awarded to the eight finalists of the 2020 edition who were selected by the committee of Experts during the semi-final on 27th and 28th February 2020," an LVMH rep explained. "The 300,000-euro award will be distributed equally among the finalists."
The LVMH Prize has also set up a fund aiding young fashion designers that will be supplemented by the 2020 Karl Lagerfeld Prize allocation. The fund, per LVMH, will "benefit all the winning designers and their brands awarded with the LVMH Prize for Young Fashion Designers and the Karl Lagerfeld Prize over the six previous editions, upon application."
Additional details will be announced soon.
The Louis Vuitton brand, meanwhile, has taken a number of steps in recent weeks to assist in COVID-19 containment efforts.
As reported earlier this month, the brand's French workshops were repurposed to be utilized for the production of non-surgical protective masks.
"As an important French House, Louis Vuitton wishes to commit at its level to producing many thousands of masks that will be distributed within the region, at no charge, to protect those who are most exposed," Michael Burke, LV's chairman and CEO, said at the time.
And more recently, LV announced the production of thousands of hospital gowns that will be given to frontline medical staff within the Parisian hospital network AP-HP.
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