LVMH opens 2024 Prize applications, introduces new Savoir-Faire prize

LVMH has opened up the applications for its 2024 Prize, with this edition to be the first to feature three awards as the luxury group introduces its new Savoir-Faire Prize to the line up.

In the announcement, LVMH said the new prize looked to promote the transmission of skills in craftsmanship, with a young brand to be recognised for such efforts among this year’s finalists.

In a release, CEO of LVMH-owned Christian Dior, Delphine Arnault, said: “The Prize is launching its 11th edition and this year I am delighted to honour our attachment to a core value of creation, savoir-faire.

“The LVMH Savoir-Faire Prize celebrates excellence in craftsmanship, innovation in design and production, and a more sustainable approach to fashion.”

The winner of the new prize will receive a 200,000 euro endowment and a one-year mentorship by LVMH teams, the same awards that are also granted to the recipient of the Karl Lagerfeld Prize.

Meanwhile, the LVMH Prize for Young Designers will continue to present a 400,000 euro endowment and a tailored mentorship programme to the winner.

Applications will close January 7, 2024, with the semi-final of the prize to take place February 29 and March 1.